Mechanisms for recovering virtual assets arising from acts of corruption in Jordanian legislation

Abstract

Objectives: To understand the concept of virtual assets and their types, the legal nature of virtual assets, the potential risks of trading them, the legal framework for recovering virtual assets resulting from acts of corruption, and the effectiveness of Jordanian legislation in recovering them.

Methodology: A descriptive-analytical approach was adopted; this involved describing digital money and virtual assets, the risks arising from dealing with them, presenting the legal regulations governing them, and the legislation related to recovery mechanisms.

Results: There is a clear legal framework for recovering funds resulting from acts of corruption in Jordan, and while recovery mechanisms are effective when dealing with traditional funds, they are less efficient when applied to digital assets. The practical impact of legislation regulating virtual assets in the field of recovering corruption-related funds remains limited.

Conclusion: It is necessary to develop an integrated system that includes updating legislation, developing technical infrastructure, enhancing the capabilities of national staff, and adopting a comprehensive national model for recovery procedures that ensures fast freezing, precise tracking, and effective recovery.