Proceedings of the 7th International Conference on Research in Social Sciences and Humanities
Year: 2024
DOI:
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Enhancing Asset Recovery Mechanisms in Thailand: Legal Reforms and the Role of UNCAC in Combating Corruption
Asst. Prof. Dr. Bajrawan Nuchprayool
ABSTRACT:
Thailand faces ongoing corruption issues that significantly impede national development and cause substantial financial losses. Current laws mandate prosecuting corrupt individuals, including disciplinary actions, criminal penalties, and seizing illicit assets, but these measures have not been effective deterrents. The main challenge lies in the complexity of tracing and recovering assets, especially those moved to foreign countries. The study indicates that while the United Nations Convention against Corruption (UNCAC) provides asset recovery guidelines in Chapter 5, it remains a framework rather than enforceable domestic law. This requires individual states to implement their own detailed measures, limiting the efficiency of asset recovery. To address these issues, the researcher proposes developing comprehensive asset collection laws that encompass diverse asset types and establish effective coordination mechanisms. The National Anti-Corruption Commission (NACC) should lead in submitting international cooperation requests and collaborating with relevant agencies. Additionally, enhancing laws on the disclosure of state counterparties will strengthen asset recovery efforts under UNCAC.
keywords: Asset Recovery; Corruption; International Cooperation; Legal Framework; UNCAC