Peru Seizes $94 Million in Assets Linked to Crime Through New Forfeiture Law

The Peruvian government has made a significant breakthrough in its fight against financial and organized crime, recovering a staggering $94 million in assets linked to these crimes through its non-conviction based forfeiture law, known as Extinción de Dominio.

A Powerful Tool Against Organized Crime

Introduced in 2018, the law allows authorities to seize assets without requiring a conviction, making it an effective way to weaken criminal networks. Attorney General Juan Carlos Villena Campana praised the law during a two-day National Meeting of Specialized Prosecutors in Extinción de Dominio, highlighting its role as a powerful tool for combating the assets of organized crime.

Success Stories and International Cooperation

The specialized prosecutors who have been using the law successfully to recover assets linked to financial and organized crime were also praised by Villena Campana. He emphasized the importance of standardizing, systematizing, and documenting procedures to facilitate and improve the work of both prosecutorial and administrative staff.

The Swiss Ambassador to Peru, Paul Garnier, commended the joint efforts between Peru and Switzerland in the area of asset recovery. Switzerland has a long history of cooperation with Peru on this issue, dating back to the beginning of the century. The Basel Institute on Governance, which has contributed to preventing and combating corruption and strengthening governance systems through its global experience, was also recognized for its role.

Supporting the Peruvian Government’s Efforts

The Peruvian government’s efforts have been supported by the Swiss SECO Cooperation in Peru and implemented by a local team. The Subnational Public Finance Management Strengthening Programme has played a crucial role in rolling out the specialized subsystem and organizing the two-day event.

Experts Weigh In: Asset Recovery is Vital for Development

Experts agree that asset recovery is vital for development, as it weakens criminal networks and promotes progress in countries like Peru. The Peruvian government’s success in recovering $94 million in assets linked to crime demonstrates the effectiveness of its new forfeiture law and its commitment to combating financial and organized crime.

Conclusion

The Peruvian government’s achievement in seizing $94 million in assets linked to crime through its new forfeiture law is a significant step forward in its fight against financial and organized crime. With the support of international partners, Peru continues to strengthen its legal framework and institutions to combat these crimes and promote development.