Asset verification is a critical component of our anti-corruption efforts, ensuring that public officials’ declared assets align with their actual financial status. While asset declaration promotes transparency, verification strengthens accountability by detecting discrepancies, illicit enrichment, and potential conflicts of interest.

Why Asset Verification Matters

 Prevents Undeclared Wealth and Corruption
Verification helps identify inconsistencies between declared assets and an official’s known sources of income, discouraging illicit wealth accumulation.

Strengthens Public Confidence
By verifying asset declarations, we reinforce the integrity of public office and assure citizens that accountability measures are actively enforced.

Detects Conflicts of Interest
Asset verification helps uncover potential conflicts where public officials may have financial interests that could influence their decisions.

Supports Anti-Money Laundering Efforts
Cross-checking assets with financial records helps track suspicious transactions, contributing to broader financial integrity and anti-money laundering initiatives.

Enhances Compliance and Deterrence
Knowing that asset declarations will be verified increases compliance and discourages false reporting by public officials.

Our Approach to Asset Verification

 Risk-Based Verification – Prioritizing high-risk individuals and sectors. Collaboration with Relevant Agencies – Engaging tax authorities, financial intelligence units, and other oversight bodies.

 Use of Technology – Leveraging digital tools to cross-reference financial and asset records.
Follow-up Investigations – Where discrepancies arise, further investigations and appropriate actions are taken.

At the Liberia Anti-Corruption Commission (LACC), we are committed to ensuring that asset verification remains a robust mechanism for fostering accountability and strengthening the fight against corruption.