Asset Management and Disposal

Management regimes however create a financial burden on the State relating to the cost of preserving assets, including valuation and maintenance costs and consequential costs such as compensation and damages arising from assets that have depreciated while in the custody of the State. These costs currently have the effect of bankrupting asset recovery programmes. Therefore, ensuring that assets are preserved at minimum cost while yielding maximum return for victims when they are ultimately realised is critically important.

In light of these challenges to national asset recovery programmes, the RSS Asset Recovery Unit is championing a standardised asset management and disposal system with the appropriate legal and policy frameworks at the national and RSS levels. The legal framework l provides for a process by which several authorities are designated and given the power to make an application for the sale of assets that have been seized, restrained, or subject to other recovery proceedings. It is intended that the management of the assets will be conducted through a Centralised Asset Management program which will provide Member States with:

• capacity building webinars on asset management
• assessment and disposal of aged inventory and reconciliation
• access to an asset management platform

The asset recovery process and management allow for illicit gains to be confiscated and redeployed to fight crime and compensate potential victims.