Financial Intelligence Unit Trains Law Enforcement on New Civil Asset Recovery and Unexplained Wealth Act

Financial Intelligence Unit Trains Law Enforcement on New Civil Asset Recovery and Unexplained Wealth Act

This week the Financial Intelligence Unit (FIU) is sensitizing law enforcement and other investigating agencies on the provisions of the Civil Asset Recovery and Unexplained Wealth Act. The Act, which officially became law in early August, tasks the FIU with being a civil recovery authority, to conduct investigations and bring court proceedings to recover assets that were acquired through illegal means. The FIU is working with Gentium UK, a company that specializes in the field, to bring entities such as the Belize Police Department, Customs Department, Belize Tax Service, and even the unions up to speed on the content of the law. Alex Ferguson, Director of Gentium UK, explained how participants will receive practical training in the application of the law, while Leni Ysaguirre-McGann, Director of the FIU emphasized its importance. 

But what happens to assets that are recovered through the legislation? Ysaguirre-McGann says that the issue is handled by several different laws, depending on the value of the assets recovered.

The training continues through to Friday.

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