On 27-28 October 2022, the Economic Crime and Cooperation Division, through the Action on “Promoting Transparency and Action against Economic Crime” in Central Asia, organised a regional workshop on “Asset Recovery through improved international cooperation in Europe and Central Asia” in Astana, the Republic of Kazakhstan. The event aimed at sharing good comparative practices related to recovery, management and disposal of frozen, seized or confiscated proceeds of crime and discussing international cooperation in asset recovery.
This event was organised in response to the interest of the beneficiary institutions in learning about relevant practices from different jurisdictions in asset recovery and asset management systems as well as understanding available mechanisms for international cooperation in asset recovery. Additionally, the beneficiary institutions aimed to enhance the cooperation relationships for asset recovery purposes with other jurisdictions among Central Asia region and Europe.
About 100 practitioners, policy advisers and policy makers from five Central Asia countries and ten European jurisdictions participated in this event in a remote and in person format. The participants discussed challenges and success stories in establishing asset recovery and management offices, freezing and seizing practices, experience in recovery of assets, international mutual legal assistance, informal mechanisms for cooperation in asset recovery cases and domestic inter-agency cooperation. The workshops also facilitated exchange of expertise and practices on asset management and disposal practices.
Central Asian countries have undertaken several steps towards consolidating their Anti-Money Laundering systems placing considerable attention on the financial investigation procedures which should result in an increased number of recovered assets. However, additional efforts to consolidate these achievements are needed. According to the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) Mutual Evaluation Reports, when it comes to the recovery of illegal property and other benefits obtained as a result of corruption offences and economic crimes, Central Asia countries are recommended:
- to enhance the procedures for the recovery of criminal assets,
- to establish mechanisms for effective management of frozen or confiscated assets,
- to designate adequately empowered competent authorities for the purpose of asset recovery and asset management.
In regard to the Republic of Kazakhstan, the Group of States against Corruption (GRECO), in its Evaluation Report (joint first and second evaluation round) has recommended the need to strengthen the systems and controls for tracing criminal proceeds and identifying ultimate beneficial owners.
The Action will continue to provide support to address these important recommendations and to improve the effectiveness of the asset recovery and asset management systems in Central Asia region.
This activity was organised by the Action on “Promoting Transparency and Action against Economic Crime”, in the framework of the Central Asia Rule of Law Programme 2020-2023, which is a joint initiative co-funded by the European Union and the Council of Europe and implemented by the Council of Europe. The Action is aimed at strengthening capacities to fight and prevent economic crime in five Central Asian countries (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan).