Bulgaria Steps Up Fight Against Financial Crime

International Centre for Asset Recovery Delivers Training

A team from the International Centre for Asset Recovery (ICAR) has concluded a five-day training program on financial investigations and asset recovery in Bulgaria, aimed at enhancing the country’s capabilities to combat corruption and recover stolen public funds. The training was funded by the Swiss Agency for Development and Cooperation under the Swiss-Bulgarian Cooperation Programme.

Participants and Objectives

The training brought together 22 participants from various fields, including judges, prosecutors, police officers, and representatives from state anti-corruption, revenue, and security departments. Nine of the participants were women. The program aimed to promote cross-agency cooperation and capacity building among criminal justice system officers.

Training Highlights

• ICAR’s training emphasized hands-on learning through simulated investigations, where participants worked in teams to analyze a complex corruption and money laundering scheme in Bulgaria.
• Participants gained access to training materials and worked on computer applications to perform financial analysis using Basel LEARN, a virtual learning platform.
• Facilitated group discussions were held to identify problems that have occurred in actual cases and develop potential solutions.

Case Study

The practical exercise involved analyzing a complex corruption and money laundering scheme in Bulgaria. Participants had to “follow the money” in the Bulgarian context, incorporating relevant criminal statutes, provisions, and enforcement procedures. The case study was praised by participants, with one commenting that it was “extremely useful,” especially the way the investigation was carried out.

Special Guest Presentation

Judge Denitsa Valkova from the Supreme Court of Cassation presented an overview of recent jurisprudence in Bulgaria related to money laundering and provided practical recommendations on gathering evidence and presenting it in court. The discussion focused particularly on proof of both the illegal origin of the property subject to laundering and the predicate offense.

Outcomes

The training has improved participants’ skills in:

• Computer literacy for analyzing banking information
• Analytical thinking
• Excel
• Differentiating between stages in criminal activity

The program is expected to enhance Bulgaria’s capabilities in detecting financial crimes and recovering stolen assets.