New Delhi, March 23 (NationPress) The Enforcement Directorate (ED) has successfully recovered assets valued at approximately $5.6 billion, predominantly from corruption-related cases, with a notable portion accomplished in the last few years, as stated by the agency’s director, Rahul Navin, on Monday.

During his opening remarks at the 12th Steering Committee Meeting of the Global Operational Network of Anti-Corruption Law Enforcement Authorities (GlobE Network), the ED chief emphasized that within the contemporary anti-corruption framework outlined by the United Nations Convention Against Corruption (UNCAC), asset recovery is not merely an afterthought; it is a key indicator of enforcement efficacy.

The ED director also highlighted the practical advantages of the GlobE tools for Indian investigators, specifically mentioning the cooperation received from Spain in a case where shared information through the Network directly facilitated the formal restraint of assets, according to a statement.

He pointed out that the Directory of Open Source Registries is instrumental in expediting preliminary investigation phases.

India's performance in asset recovery positions it among the leading jurisdictions worldwide in returning misappropriated assets to the state and victims, the statement noted, adding that hosting the 12th GlobE Steering Committee Meeting signifies India's rising prominence in the global anti-corruption framework.

The three-day event, running from March 23 to 25, gathers representatives from the 15 member nations of the Steering Committee to discuss the Network's strategic goals, operational focus, and progressive frameworks for international collaboration.

The current 15 nations represented on the GlobE Steering Committee include: Azerbaijan, Brazil, China (including Hong Kong and Macau SARs), Ethiopia, Grenada, India, Italy, Nigeria, Romania, Russia, Saudi Arabia, Spain, South Africa, South Korea, and the United Arab Emirates.

The GlobE Network serves as an international platform for specialized anti-corruption law enforcement agencies, established under the Riyadh Initiative during Saudi Arabia's G20 Presidency, as per the statement.

Functioning under the UNCAC, the Network facilitates direct cooperation among member agencies for the investigation, prosecution, and recovery of ill-gotten gains from corruption, it added.

Currently, the Network comprises 135 member countries and 250 member authorities, along with 18 observers, including EUROPOL, the World Bank, and the International Association of Anti-Corruption Authorities.

The GlobE Network enhances formal legal assistance channels by allowing quicker, more adaptable, and direct agency-to-agency interactions.

The opening session of the Steering Committee meeting was also attended by the Central Bureau of Investigation (CBI) Director, Special Directors, and senior representatives from the GlobE Secretariat under the United Nations Office on Drugs and Crime (UNODC), as reported.