Financial Crime World

Georgia’s Investigation Service: Stepping Up the Fight Against Financial Crimes

In the heart of the Georgian capital, the Investigation Service of the Ministry of Finance (ISMoF) is gearing up to tackle financial-economic crimes with renewed determination.

About ISMoF

The ISMoF, a state subordinate specialized law enforcement authority under the jurisdiction of the Ministry of Finance, has been instrumental in preventing, detecting, and suppressing financial crimes across the country since its establishment in 2009. Appointed by the Prime Minister but accountable to the Government and the Minister of Finance, the head of the ISMoF leads a team dedicated to improving Georgia’s business environment and eliminating economic crimes.

Mission and Values

The primary mission of the ISMoF is to enhance Georgia’s business climate by stamping out financial crimes. Through operative-searching activities, they aim to prevent crimes and work closely with various state agencies, law enforcement bodies, non-governmental and international organizations, and foreign agencies to foster best practices. Their work is grounded in the principles of:

  • Legality
  • Humanity
  • Justice
  • Publicity
  • Transparency
  • Protection of honor and dignity

Origins and Evolution

The ISMoF’s origins can be traced back to 2004 when the Financial Police was established to combat financial-economic crimes and monitor lawful usage of state budget funds. In 2007, the Financial Police, Tax Department, and Customs Department were united to form the Revenue Service. Following a structural reorganization in 2009, the Special Research and Financial Expertise, Investigation departments, and the Special Detachment Unit of the Revenue Service were combined to create the Investigation Service of the Ministry of Finance, with the relevant law taking effect on December 1, 2009.

Key Objectives

The ISMoF’s core objectives include:

  1. Preventing and investigating financial crimes: Preventing financial crimes, detecting and investigating corruptive transactions, and conducting investigative activities in full.
  2. Operative-searching activities: Detecting and suppressing crimes through active measures.
  3. Preventing administrative offenses: Preventing and detecting administrative offenses in the financial-economic field.
  4. Studying criminal facilitators: Exploring and analyzing reasons that foster crime in various fields, and preparing recommendations for addressing these factors.

Conclusion

The ISMoF continues its vital role in the Georgian criminal justice system, ensuring the country’s economic development remains unencumbered by financial crimes.