ASSET RECOVERY OFFICE ESTABLISHED BY THE DECISION OF THE REPUBLIC OF SRPSKA GOVERNMENT
| Banja Luka | Tuesday, 15/09/2020
According to the Decision of the Republic of Srpska Government, the Division for Financial Investigations and Money Laundering, Crime Police Administration, was defined as Asset Recovery Office. Thus, one of the key recommendations of the European Commission from the EC Opinion on BIH application for membership of the European Union and the accompanying analytical report was met, as well as the obligation of complying the domestic legislation with that of the EU.
The activities of the Office shall be focused on facilitating monitoring and identification of illegally obtained property after committing a criminal offence and other property related to crime which may be seized by the order of the competent court authority during a criminal procedure.
Another duty of the Office shall be submitting requests and exchanging data among the competent both domestic and foreign authorities for the purpose of searching, investigating and defining material gain obtained by committing a criminal offence.
It is not a new authority that is established by the decision of the Republic of Srpska Government, but merely a formal appointment of the Office, since the Division for Financial Investigations and Money Laundering had previously also been performing those tasks in accordance with their capacities.
The Republic of Srpska was the first in BIH to undertake this step and appoint the Asset Recovery Office within the process of improving capacities in countering organized crime.
