Corporate Governance Framework
Recovery of the assets
15. The Commission will seek to recover all assets lost or misappropriated as a result of fraud, theft or corruption. The process of recovery will depend upon the nature and circumstances surrounding the loss, and whether the fraud results in criminal charges.
16. Once the size and extent of the loss has been confirmed, action will be taken to trace and freeze the lost assets, where possible, so that the recovery process can be commenced. The recovery process may take several forms:
- frauds committed by third parties – repayment by an agreed arrangement, directly to the Commission
- frauds committed by employees – repayment by an agreed arrangement, either directly or through payroll deductions.
17. Recovery arrangements agreed with third parties will be handled by the Commission’s legal advisers.
Last updated: 27 February 2023
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