Experts Confirm Difficulty Of Retrieving All The Money Smuggled Overseas

Economists pointed to the difficulty for Algeria to retrieve the very large sums of money smuggled abroad, especially those registered under aliases, even the funds registered with the names of members of families of corrupt offenders who are now facing prosecution.
The economic expert, Kamel Rézig, said in a statement to the Algerian radio that the looted money smuggled abroad, will be difficult to recover, as many of these diverted funds were registered under aliases and thereby it is difficult to pinpoint the owners.
He indicated to this effect that the funds recorded in the names of owners can be retrieved by Algeria by notably activating international agreements pertaining to the struggle against the corruption scourge.
Mr. Rézig added that the judiciary can freeze the funds of corrupt offenders, stressing that the judiciary has the power to freeze the assets of the latter, with the appointment of an administrator or a judicial supervisor until the Court’s final verdict on the matter.