Legal Issues Of The Overseas Asset Recovery In China

In some major economic cases, criminals often divert illicitly acquired funds to outside to escape the sanctions of the domestic laws in order to gain a large number of illegal assets. In recent years, with the growing number of such cases, many countries have realized the serious consequences of a large number of asset outflows to the national economy, and have recognized the importance of strengthening international cooperation to develop and perfect the legal system of overseas asset recovery. For this, countries enter into bilateral and multilateral agreements and international conventions actively, and have formed a complete set of asset recovery outside the legal system basically. However, these provisions are overly principles and general terms, countries must be based on its own national conditions, combined with the national law, do some reference and modifications selectively to recover the overseas asset efficiently. Under the ideological influence of China in the long-term, the level of the rule in this field is seriously lagging behind, based on the introduction and assessment of the system of international legal cooperation on asset recovery, combined with the status quo of our legislative and practical measures, the author proposes measures to improve our overseas asset recovery system pertinently. The main contents are as follows:Part â… :Introduced the concept of overseas asset recovery, and further information on the background of the formation of asset recovery outside the legal system, process and significance;Part â…¡:Introduced overseas asset recovery and some extraterritorial national advanced practice and experience which is worth learning at all stages.Part â…¢:Introduced the participation in international treaties of our country about overseas asset recovery and the status quo of our domestic legislation, on this basis,propose the deficiency in this field of China.Part â…£:Proposed measures to perfect our overseas asset recovery system, specifically including the following aspects measures to strengthen the prevention and monitoring of the transfer of the proceeds of crime; measures to improve asset recovery in civil proceedings.; Improve the applicable conditions of freezing and seizure; appropriately expand the range of the object confiscation; improve the forfeiture proceedings before the judgment; perfect the system of protection of bona fide third parties; establish of the judicial review system for the recognition and enforcement of foreign criminal fines and confiscation ruling; establish the system of allowing to share the confiscation of assets with the other countries.