The Officer-in-Charge of the Liberian Anti-Corruption Commission (LACC), Charles Gibson, has stressed the need for developing countries to take action to recover stolen funds.
Gibson referenced the United Nations Office of Drugs and Crime report which shows that developing countries lose US$20 to US$40 billion annually through bribery, something he said is very alarming.
The LACC boss was speaking in Monrovia on Thursday at the program making the commemoration of African Anti-Corruption Day at a local hotel in Sinkor.
“There is a need for improved mechanisms to facilitate the recovery of corruption proceeds, the United Nations Convention Against Corruption provides a framework for the recovery of stolen assets which requires state parties to restrain, seize, confiscate and return proceeds of corruption,” Gibson said.
According to him, criminal flows are a drain on social services and economic development programs, and contribute to the impoverishment of the world’s poorest countries.
“Corruption weakens the confidence in public institutions, damages private investment climate and ruins delivery mechanisms for poverty alleviation program as well as public health and education,” Gibson stated.
“People mostly affected by corruption are children in need of education, patients in need of treatment as well as all members of society who contribute their fair share and deserve the assurance that public funds are being used to improve their lives.”
He pointed out that combating corruption requires creating awareness on the negative impact of it in the communities and reporting cases of corruption to the relevant anti-corruption agencies.