Summary: H.R.4711 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for H.R.4711. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (05/09/2002)

Stolen Asset Recovery Act of 2002 - Directs the Secretary of the Treasury to submit annual reports to specified congressional committees on: (1) the possibility that assets stolen or misappropriated from foreign countries and their people by any senior foreign political figure, family member, or associate may be held in an account at a U.S. financial institution; (2) Government efforts and plans to identify such assets; (3) identification mechanisms available to the Government; and (4) legislation that could be enacted to facilitate the identification and return of such assets.

Directs the Secretary to: (1) urge each international financial institution to provide a copy of audit reports or other information concerning the use of the funds loaned by the institution to governments in which corruption was or is a serious problem; and (2) release such information to the public and include such information in each annual report.