BRICS member nations on Saturday reaffirmed their commitment to jointly combat money laundering and corruption. They pledged to effectively identify, detect, and disrupt money laundering schemes while strengthening digital financial security, including preventing fraud in cross-border payment systems. For the first time, the grouping emphasized establishing a mechanism for extraditing fugitives from one member country to another, alongside taking steps to recover assets from such criminals.
The joint declaration welcomed the creation of the BRICS Expert Network on Asset Recovery, designed to improve cooperation among focal points. Additionally, a BRICS repository was established to facilitate informal cooperation in tracing fugitive offenders wanted for corruption and supporting extradition efforts. Discussions are ongoing to develop a network of law enforcement agencies aimed at enhancing cooperation against fugitive offenders. The members also pledged continued cooperation in preventing and combating corruption, as well as implementing relevant international agreements, particularly the UN Convention against Corruption.
