The Cabinet approved amendments to the regulations concerning the assessment, management and use of ill-gotten gains (sequestrated assets), IPN reports.
Minister of Finance Sergiu Pușcuța said that a series of faults were identified in the process of implementing the current legal framework by the Assets Recovery Agency. Also, analyzing the situation concerning money laundering and terrorism financing, experts of the Moneyval Committee recommended increasing the efficiency of the crime asset recovery system.
The amendments stipulate measures to strengthen the capacities of the Assets Recovery Agency, first of all as regards the financial resources sequestrated from bank accounts or the sale of crime assets. Currently, the sequestrated financial assets are managed by banks, which get receipts from them. However, in case of insolvency of a bank or stealing of these assets, the state will be obliged to pay the equivalent value of the sequestrated assets. The Ministry of Finance proposed that this money should be transferred under state management.
To hasten the procedure for the sale of sequestrated assets, auctions could be held with only one bidder.
