Representatives of the State Financial Monitoring Service of Ukraine took part in the Global Forum on Asset Recovery hold on December 4 to 6, 2017 in Washington DC (USA).
The goal of this Forum was to focus on tracing and recovery of the assets related to Nigeria, Sri Lanka, Tunisia and Ukraine.
The Forum was split into three Work Streams that enabled countries, including the law enforcement agencies and prosecutors to improve coordination and cooperation. Representatives of countries were involved in a series of consultation meetings designed to advance asset recovery outcomes and address the challenges of tracing assets hidden behind complex shell companies or similar structures.
In particular, investigators, forensic auditors and representatives of the FIUs participated in the First Work Stream. This Work Stream was focused on the sharing experience in asset tracing in the selected countries. Different approaches adopted by countries in opening their own domestic cases, establishing asset recovery teams, identifying and tracing assets domestically and at the international level, and using multiple channels of information communication to identify the location, nature and volume of assets.
Within the framework of the Forum, participants met with representatives of international financial institutions and civil society partners, as well as shared good practices with colleagues from other countries on joint efforts in tracing and recovery of the stolen assets. At the same time, the Forum has become an important event of the international community regarding the need in coordinating efforts to recover the proceeds of crime.
In addition, the Forum participants had the opportunity to get acquainted with the latest technologies and innovative ways of tracing and recovery of the proceeds of crime.
The Forum is co-hosted by the United Kingdom and the United Stated, with the support of the Stolen Asset Recovery Initiative (StAR) of the World Bank and the United Nation Office on Drugs and Crime (UNODC).
Press service of SFMS