Financial Crime World

Financial Crimes in Cryptocurrencies Exposed as CARA Seizes Assets Worth 5 Million Lei

The Republic of Moldova’s Criminal Assets Recovery Agency (CARA) has made a significant breakthrough in its efforts to combat financial crimes by seizing assets worth nearly 5 million lei, including cryptocurrencies and cryptocurrency generation systems.

A Five-Year Effort

Over the past five years, CARA has been working tirelessly to track and recover criminal assets in various forms. According to their latest report, the agency has seized almost 5,000 assets with an estimated value of over 5.6 billion lei since 2017. These assets include:

  • Cryptocurrencies
  • Cryptocurrency generation systems
  • Shares
  • Debts
  • Social capital
  • Constructions
  • Other forms of ill-gotten gains

Collaboration with Public Institutions

CARA has been working closely with various public institutions to identify and recover criminal assets. In the past five years, the agency has received 883 delegations from prosecutors and criminal investigation officers to conduct parallel financial investigations.

These delegations were requested by:

  • Ministry of Internal Affairs
  • National Anticorruption Center
  • Anticorruption Prosecutor’s Office
  • Prosecutor’s Office for Combating Organized Crime and Special Cases

Complex Process

The process of recovering assets obtained through crime is complex and requires the efforts of multiple public institutions. CARA has the authority to:

  • Freeze identified criminal assets
  • Access national databases to carry out its activities

As part of its efforts to combat financial crimes, CARA has also filed civil actions in the interests of the state and legal entities. The agency’s actions have led to the recovery of a significant amount of stolen funds and the prevention of further criminal activity.

A Major Milestone

The seizure of cryptocurrencies and cryptocurrency generation systems is a major milestone in Moldova’s fight against financial crimes. It highlights the importance of effective mechanisms for tracking and seizing assets, regardless of their form or location.

CARA’s efforts have sent a strong message to criminals that they will not be able to hide their ill-gotten gains in virtual currencies. The agency’s success is a testament to its commitment to combating financial crimes and protecting the integrity of Moldova’s financial system.