Crime does not pay. It is not supposed to.

And so the best way to put criminals out of their dirty business is to deny them their loot.

For as long as crooks have unfettered access to the fruits of their criminal activities and are even able to launder and invest them in legitimate businesses, not only ordinary or inordinate crime would thrive.

Organized or syndicated crime would take over, with corruption permeating every layer or level of the bureaucracy, even reaching the highest corridors of power.       

Thus, a visiting British judge stressed the importance of asset recovery as a tool in fighting corruption.

“Restraining, seizing, and confiscating the fruits of a criminal’s crime is not only right and proper, but an important tool in the fight against economic crime and corruption,” Judge Michael Hopmeier was quoted by a major broadsheet as saying in a lecture.

Hopmeier, an international expert on the issue due to his vast experience in anti-corruption legislation, implementation and prosecution, was the key speaker in the 3rd Haydee Yorac Lecture at the EDSA Shangri-La Hotel in Mandaluyong City Wednesday.

He discussed asset recovery as an anti-corruption tool, the effects of corruption and the means of detecting corruption.

The British magistrate  also acquainted the audience with the law, practical procedures, and effects of asset recovery and anti-corruption work in the UK, including the UK Bribery Act of 2010 and mutual cooperation under the United Nations and European Union Conventions.

“Depriving perpetrators of the benefits of the crime is important so the government needs to provide the tools and resources needed for asset recovery,” he said.

He proposed that authorities be given sufficient powers to confiscate assets for this to be achieved.

Lawyer Vicente Aquino, executive director of the Anti-Money Laundering Council, agreed, saying that the AMLC asset recovery should not just be a tool but a primordial objective.

The AMLC is currently seeking the amendment of the Anti-Money Laundering Act’s provisions on the inquiry and freeze of suspicious bank accounts.

Aquino criticized a Supreme Court ruling in 2008, which required government prosecutors to give advance notice to the accused before they can investigate the suspect’s bank account as this gives an opportunity to the suspect to hide assets.

Hopmeier pointed out that corruption and money laundering are intrinsically linked.

“Stop money laundering and you may stop corruption,” he said.

He said there is also need for active cooperation between countries to address economic crime.

For his part, British Ambassador Stephen Lillie said corruption is an international problem that requires an international solution, citing greater international partnership as a necessary step in tackling corruption.

Lillie expressed hopes that the Senate would ratify the Extradition Treaty and Mutual Legal Assistance Treaty between the UK and the Philippines, which were ratified in the UK last year.

Hopmeier commended the “great work” of the Presidential Commission on Good Government under the leadership of Chairman Andres Bautista, which has recovered some $2 billion of ill-gotten wealth, an achievement of “no mean feat by anyone’s standards”.

“Corruption destroys the rule of law and democratic institutions,” Hopmeier said.