Armenia Turns Up Heat on Financial Crime Investigations

In a significant effort to combat corruption and economic crimes, the Armenian authorities have established a chain of law enforcement and criminal justice institutions dedicated to tackling financial malfeasance. This move is part of a broader initiative to strengthen the country’s fight against corruption.

New Institutions Established

The Armenian government has set up the Anti-Corruption Committee (created in 2021), as well as departments focused on economic crime and asset recovery within the General Prosecutor’s Office, and Anti-Corruption Courts launched in 2022. These new institutions have paved the way for specialized professionals to conduct financial investigations and prosecutions.

Challenges Remain

Despite these advancements, experts point out that Armenia still faces challenges in conducting comprehensive financial investigations and effectively using results for prosecution and adjudication of crime, as well as confiscation of criminal assets. The country needs advanced skills in financial investigations to adequately apply its new legal framework, as well as a shift in mentality and practice at all levels.

Training Courses Launched

To address these gaps, the Council of Europe recently delivered two training courses on “Using Financial Investigations to Fight Economic Crime and Recover Assets” for 65 representatives from investigative, prosecutorial, and judicial authorities involved in anti-corruption and anti-money laundering efforts. The training events followed the production of a technical guidance package on financial investigations into money laundering and terrorism financing.

Objectives of the Training Program

The program aimed to promote practical capacity-building, bringing together various functions within the investigative and judicial system against corruption and economic crimes in Armenia. Participants examined and discussed international standards and latest practices, as well as specificities of the Armenian system, including recent legal reforms.

The events also facilitated inter-agency cooperation at the national level, with participants reflecting on their respective roles, capacities, and contributions to improving the quality and effectiveness of financial investigations.

Support from the European Union and Council of Europe

Armenian Deputy Minister of Justice Armenuhi Harutyunyan expressed gratitude to the European Union and the Council of Europe for supporting justice and anti-corruption reforms in Armenia. She highlighted the importance of the training courses for practitioners to acquire new knowledge and skills in investigating cases involving corruption and economic offenses.

Follow-up Activities

The Council of Europe will continue to support Armenia’s efforts against economic crime through a series of follow-up activities based on national needs identified by beneficiaries.