A regional conference “Asset Recovery through improving international cooperation in Europe and Central Asia” was held in Astana, which was attended by Vice-Rector of the Academy of Law Enforcement Agencies Gulnar Shushikova.
The event brought together representatives of 14 countries — Albania, Georgia, Kazakhstan, Kyrgyzstan, Latvia, Moldova, Poland, Serbia, Tajikistan, Turkmenistan, Uzbekistan, Ukraine, Czech Republic, Estonia.
The participants shared their experience in the recovery and management of seized and confiscated assets, discussed problematic aspects of the investigation of financial crimes, as well as prospects for strengthening regional cooperation in asset recovery cases.
Experts of the Council of Europe spoke about the specifics of the legal regulation of freezing and asset management in European countries.
As the speakers noted, European legal instruments have significant differences from Kazakh ones.
First of all, the burden of proof for a financial investigation is placed on the suspect. If he or his affiliated persons cannot prove the legality of the acquisition of property, it is subject to confiscation.
In addition, there is a long period for conducting a financial investigation. For example, in Belgium, it is 10 years after the verdict on an economic crime and can be extended for another same amount. In some European jurisdictions, this period is calculated taking into account the statute of limitations for the commission of a criminal offense.
Another feature is that the frozen property can be sold at auction until the completion of the criminal investigation. This is done in order to reduce the state’s expenses for its maintenance and prevent a decrease in the value of the asset.
There is also a state system of professional management of frozen and confiscated assets, targeted distribution of income received from them for specific budget programs.
The information obtained during the conference will be used by the Academy in the framework of scientific research in the field of asset recovery and conducting a parallel financial investigation.
The event was organized with the support of the project “Promoting Transparency and Combating Economic Crimes (CF TAEC)” within the framework of the European Union and Council of Europe-funded Program on the Rule of Law in Central Asia in partnership with the Anti-Corruption Agency of the Republic of Kazakhstan.
