Parallel financial investigations to be conducted under common national mechanism

The National Anticorruption Center (NAC), the Prosecutor General’s Office, the Ministry of Internal Affairs, the Customs Service and the State Tax Service have approved a unified mechanism for conducting parallel financial investigations at the national level.

Representatives of the five authorities signed an interinstitutional Order by which the Regulation on ensuring the conduct of parallel financial investigations in criminal cases generating economic benefits was approved.

According to the NAC, the new Regulation establishes a unified mechanism for organizing and conducting parallel financial investigations and sets out the stages for their assessment, initiation, planning, conduct and documentation, as well as the mechanisms for record-keeping, reporting and cooperation among the competent authorities.

“One of the main objectives is the early initiation of parallel financial investigations and their conduct simultaneously with the investigation of the offense. Thus, the authorities will be able to identify and trace in good time the assets derived from criminal activities and order measures for their freezing. The mechanism aims to prevent the concealment, alienation or transfer of criminal assets and to create the necessary preconditions for their effective confiscation and recovery,” the NAC underlined.

The Regulation also strengthens cooperation between the Criminal Assets Recovery Agency within the NAC, the criminal investigation bodies and prosecutors, including through common mechanisms for recording and reporting the results of parallel financial investigations.

By establishing this mechanism, the authorities aim to apply a uniform practice at national level and to increase efficiency in identifying, freezing, confiscating and recovering assets derived from crime.