The Joint Order of the Asset Recovery and Management Agency (ARMA) and the National Agency on Corruption Prevention (NACP) dated July 15, 2024, No. 267/198/24, which entered into force on August 8, 2024, defines the mechanisms and procedure for cooperation between the two agencies in the process of identifying unjustified assets of declaring entities abroad.
The document defines the procedure for ARMA to fulfill written requests from NACP to provide information necessary to identify property acquired by officials in violation of anti-corruption legislation. In fact, the joint order of the two Agencies is the result of an agreement to expand the possibilities of finding assets hidden abroad, which took place in May this year. Both parties emphasize the importance of well-established cooperation in this area and its critical importance for the effective operation of the entire anti-corruption infrastructure.
“ARMA, as the agency that shapes the state policy in the field of tracing suspicious assets, and NACP, as the agency that shapes the state anti-corruption policy, should focus on a common task - to return to Ukraine all assets acquired by dishonest officials and hidden abroad. To achieve this, we must use all available capabilities and international connections to effectively search for and identify assets wherever they may be located.
Cooperation with ARMA will significantly enhance the capabilities of NACP specialists who implement financial control measures,” said NACP Head Viktor Pavlushchyk.
According to the Head of ARMA Olena Duma, the new format of cooperation between ARMA and NACP is an important step in strengthening the fight against corruption and illegal enrichment in Ukraine.
“This not only increases the effectiveness of anti-corruption agencies, but also sends a clear message to dishonest officials that it is becoming increasingly difficult to hide illegally acquired assets, regardless of where they are located,” she emphasized.
In June 2024, NACP and the Basel Institute on Governance (Switzerland) formalized their cooperation in the field of tracing and recovering assets illegally withdrawn from Ukraine in a memorandum of cooperation. The document agreed by the parties provides, in particular, for the increased use of new digital tools and training of NACP employees involved in lifestyle monitoring and inspections of unjustified asset acquisition.
