Indian’s Asset Recovery in Uganda: The Anti-Corruption Legal and Enforcement Perspective

Corruption constitutes a major challenge for businesses operating or planning to invest in Uganda. Corruption, like a disease, is eating away the foundation of people’s faith in government. It undermines the stability and security of nations. Funds destined for schools, health care, and infrastructure in the world’s most fragile economies are split off and stashed away by individuals and entities for personal benefit. The recovering of the proceeds of corruption is a collective responsibility that involves both the public and private sector. Law enforcement and prosecution’s efforts to go after assets, confiscate and return them has been undermined by the use of the same policies and laws by the corrupt persons. This research deals with the ease with which corrupt actors hide their interests behind various law provisions such as corporate veils, trusts and the difficulties investigators face in tracing, identifying, and recovering these assets. There is need for mobilization of the highest level to effectively tackle corruption. Financial centers and developed countries have committed, through the UN Convention against Corruption and international anti-money laundering to improve the flow of information and aid in the tracing, identifying and recovering of the assets in question. The research will provide evidence of how far we still have to go to make these commitments a reality. Narrowing down the gap between the stated commitments and practice on the ground has a direct impact on the actual recovery of assets. KEYWORDS. CORRUPTION, WORLD BANK, ASSETS, LAW, GOVERNMENT.