United Nations backs India’s concerns over black money, calls for action on recovering money hidden in safe havens


Black money

By NewsGram Staff Writer

“Track down and recover black money hidden in safe foxhole,” called out a group of law officials in a major United Nations meeting, which concluded on Sunday in Doha, Qatar.

The 13th UN Congress on Crime Prevention and Criminal Justice stated that it’s high time to take effective steps to track, recover and confiscate “money and other assets that have not been accounted for and are found in safe havens.”

The group also proposed that the freezing can be carried out “in accordance with domestic law” and can also be “non-conviction-based.”

It is notable that the meeting, which was attended by UN Secretary General Ban Ki-Moon, union Law Minister D.V. Sadananda Gowda and the chief legal and law enforcement officials from all over the globe, kind of advocated India’s concerns over black money.

On the other hand, the meeting also focused on amplifying international cooperation and finding for nations “ways of affording one another similar cooperation in civil and administrative proceedings for confiscation purposes.”

“I am happy to note that this Congress has endorsed the need for greater international cooperation to effectively deal with critical issues such as unaccounted black money stashed in safe havens, money laundering,” said Gowda welcoming the Congress’ proposed actions to deal with the grappling issue of Black Money.