Lok Sabha Question No. 2863 (UNSTARRED), answered on 2018-12-28
Subject: Nine Point Agenda for Economic Offenders
Ministry: FINANCE
Asked by: SUSHIL KUMAR SINGH

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMC AFFARRS

## LOK SABHA UNSTARRED QUESTION No.2863 TO BE ANSWERED ON DECEMBER 28,2018

## Nine Point Agenda for Economic Offenders

## 2863. SHRI SUSHI KUMAR SNNGH

Will the Minister of FINANCE be pleased to state:

- (a) Whether the Government has  presented a nine for taking action against the fugitive economic offenders in the G-20 conference held recently, ifSo, the details thereof; and point agenda
- Government to nab the fugitive economic offenders?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PON. RADHAKRISHNAN)

- and (b)   Yes, Sir: India presented a nine agenda in the G-20 Leaders ` Summit held recently on November 30, 2018 and December 1, 2018 in Buenos Aires, Argentina for action against fugitive economic offenders. The nine agenda presented is at Annexure. India has pursued the agenda against fugitive economic offenders in various fora of the G2O, like, Finance and Sherpa Tracks, Anti-Corruption Working Group and the Denial of Entry Experts Network Consequently, Leaders Declaration; adopted at the G2O Buenos Aires Summit; inter alia,  provides We will further the links between corruption and other economic crimes and ways to tackle them, including through cooperation o the return of persons sought for such offences and stolen assets, consistent with international obligations and domestic legal   systems: We ask relevant international organizations to report back to uS on those issues during the next presidencypoint point explore

This reflects the will exhibited by the G2O members to tackle the issue of return of persons sought for economic offences and stolen assets through international cooperation:

ANNEXURE REFERRED TO IN REPLY TO PARTS () & (b) OF LOK SABHA UNSTARRED QUESTION NO. 2863. FOR DECEMBER 28, 2018 ASKED BY SHRI SUSHIL KUMAR SINGH REGARDING NINE POINT AGENDA FOR ECONOMIC OFFENDERS

## Statement indicating Nine Point Agenda for Economic Offenders

- 1\_ Strong and active cooperation across G-20 countries to deal comprehensively and efficiently with the menace fugitive economic offenders:
- 2\_ Cooperation in the legal processes such as effective freezing of the proceeds of crime; early return of the offenders and efficient repatriation of the proceeds of crime should be enhanced and streamlined
- 3\_ Joint effort by G-20 countries to form a mechanism that denies entry and safe havens to all fugitive economic offenders.
- 4 Principles of United Nations Convention Against Corruption (UNCAC); United Nations Convention Against Transnational Organized Crime (UNOTC), especially related to "International Cooperation? should be fully and effectively implemented:
- 5 FATF should be called upon to priority and focus to establishing international cO-operation that leads to timely and comprehensive exchange of information between the competent authorities and FIUs. assign
- 6 FATF should be tasked to formulate a standard definition of fugitive economic offenders.
7. FATF should also develop a set of commonly agreed and standardized  procedures   related to identification, extradition and judicial proceedings for dealing with fugitive economic offenders to provide guidance and assistance to G-20 countries, subject to their domestic law.
- 8 Common platform should be set up for sharing experiences and best practices including successful cases of extradition, gaps in existing systems of extradition and legal assistance; etc.
- 9 G-20 Forum should consider initiating work on locating properties of economic offenders who have a tax debt in the country of their residence for its recovery: