Confiscated assets and financial resources obtained through criminal activities will be used for social and public interest purposes, under a new law published in the Official Journal of the Republic of Moldova.
The Ministry of Justice of the Republic of Moldova drafted the bill based on proposals from public institutions and civil society organizations. The authors state that the law aims to improve the efficiency of asset recovery and financial crime investigations, while ensuring proper management of seized assets for the public benefit.
Under the new provisions, the Criminal Asset Recovery Agency will record confiscated assets, except for monetary amounts. The State Tax Service of the Republic of Moldova will manage confiscated funds. The Agency will publish a list of available assets, and public institutions and non governmental organizations will be able to request their use.
The law also establishes the Commission for the Management of Confiscated Assets, composed of nine members. Eight members will represent various ministries, and one member will represent civil society, designated by the Ministry of Justice. The Commission will review applications and decide how to allocate confiscated assets or funds for social and public interest purposes.
After authorities transfer the assets to beneficiaries, the Criminal Asset Recovery Agency will monitor their use. The law also stipulates that 70 percent of confiscated amounts will go to the state budget, 20 percent will be allocated for social use, and 10 percent will be directed to public authorities for public interest projects.
The new regulations will enter into force two months after their publication in the Official Journal.