Asset Sharing
When assets have been confiscated or recovered, the funds will be held in the Criminal Offences Confiscation Fund or the Civil Asset Recovery Fund. These funds may be subject to an asset share with jurisdictions that have provided assistance which has facilitated the registration of the final order.
The Attorney General has entered into formal, standing arrangements with the United Kingdom and the United States of America which govern the sharing of assets with those jurisdictions. For all other cases, the Attorney General considers asset shares on a case-by-case basis in accordance with the Attorney General’s Asset Sharing Policy and the relevant Treaty provisions.
Asset Sharing Policy
When considering asset sharing on a case-by-case basis, the following principles apply:
- it is anticipated that in ordinary cases, where assets have been confiscated or recovered following a request from another jurisdiction (the "Requesting Jurisdiction”), the assets will be shared in equal proportions with the Requesting Jurisdiction, recognising the respective contributions of the participants involved;
- where there are identifiable victims of the criminal conduct underlying the confiscation or recovery of assets, consideration of those rights takes precedence over asset sharing between the respective jurisdictions, except where the number of victims and the value of assets is such that each victim’s portion is de minimis or the value of the assets exceeds the victims losses, in which case, the excess may be shared;
- unless exceptional circumstances apply, costs associated with realisation of the assets will be deducted before the determination of the amount to be shared; and
- if one participant has expended extraordinary resources in securing the relevant Order, this may be taken into account when determining the share.
Asset Sharing with the United Kingdom
On 15 March 2024, a Memorandum of Understanding was signed with the Government of the United Kingdom of Great Britain and Northern Ireland on the sharing of forfeited or confiscated assets or their equivalent funds.
The Memorandum provides a mechanism for the sharing of assets when one participant has assisted another in facilitating the forfeiture or confiscation of assets in criminal or non-conviction-based asset recovery proceedings.
Memorandum of Understanding with the United Kingdom
Asset Sharing with the United States of America
In January 2015, a permanent asset sharing agreement was entered into with the United States of America. The agreement recognises the international efforts of both the US and Jersey in the fight against financial and other cross-border crimes, including the targeting of terrorism and money laundering.
The agreement provides a mechanism for the sharing of assets when one party has helped another in facilitating a forfeiture or confiscation of assets in criminal or non-conviction-based asset recovery proceedings.
Asset Sharing Agreement with the United States of America
Asset shares with other jurisdictions
In addition to the formal standing arrangements with the United Kingdom and the United States of America, the Attorney General has entered into case-specific arrangements to share assets with other jurisdictions. These are set out below.
Memorandum of Understanding with Mozambique
On 7 May 2024, a Memorandum of Understanding was signed with the Republic of Mozambique to return over £829,500 in forfeited assets to that jurisdiction. The Memorandum states that the forfeited assets will fund the purchase of vital equipment for three enforcement agencies involved in the fight against corruption and financial crime in Mozambique.
Memorandum of Understanding with Mozambique
News: Return of £829,500 to Republic of Mozambique confirmed
Asset Recovery Agreement with Nigeria
On 19 February 2024, an Asset Recovery Agreement was signed to facilitate the return of over £2 million in forfeited assets to Nigeria. The returned funds were to finance completion of the Abuja-Kano Road, a crucial Nigerian infrastructure project.
Asset Recovery Agreement with Nigeria
Asset Recovery Agreement with Kenya
On 28 March 2022, an Asset Recovery Agreement was signed with Kenya to repatriate £3 million of confiscated assets to Kenya, with the funds allocated to the fight against the COVID-19 pandemic.
Asset Recovery Agreement with Kenya
News: Jersey and Kenya sign historic Asset Recovery Agreement
Repatriation agreement between Jersey, Nigeria and the USA
On 3 February 2020, an Asset Recovery Agreement was signed to repatriate more than US$300 million of forfeited assets to Nigeria.
The funds were returned to the United States and paid to the Federal Republic of Nigeria in accordance with an Asset Recovery Agreement agreed between:
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the US
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Nigeria
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Jersey
News: Repatriation agreement between Jersey, Nigeria and USA