Asset Recovery Strategies Take Centre Stage in Kazakhstan
OSCE Programme Office Meets with Chairman of Asset Recovery Committee
A landmark meeting was held on January 26, 2024, between Deputy Head of the OSCE Programme Office in Astana, Yuri Fenopetov, and Chairman of the Asset Recovery Committee of the Prosecutor General’s Office, Nurdaulet Suindikov. The high-level gathering focused on strengthening collaborative efforts to combat illicit financial activities in Kazakhstan.
About the Asset Recovery Committee
The Asset Recovery Committee was established to recover illegally removed assets from the country. With a mandate to evaluate and analyze information on asset origins, the committee plays a crucial role in recovering unlawfully obtained and removed assets on behalf of the State.
Meeting Highlights
- Chairman Suindikov briefed OSCE Programme Office representatives on the committee’s mandate and new legislation related to asset recovery in Kazakhstan.
- Both sides emphasized their commitment to addressing current and future challenges in asset recovery, recognizing the significance of this issue not only at the national level but also within the broader global framework.
Cooperation and Support
The OSCE Programme Office expressed its readiness to support various initiatives aimed at facilitating asset recovery, based on priorities set by the host country. The meeting concluded with a shared intention to work together on improving national legislation and enhancing staff capacities through expert support and practical training activities.
Significance of Asset Recovery
This cooperation represents a significant step forward in joint efforts to combat financial offenses, with the return of illegally withdrawn assets being a key priority within Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) initiatives. By fostering international collaboration and equipping relevant authorities with enhanced capabilities, this partnership aims to contribute to the fight against illicit financial activities at the regional level and recover unlawfully acquired assets.
Conclusion
The meeting marked a significant milestone in the efforts to combat illicit financial activities in Kazakhstan and demonstrated the commitment of both sides to working together to achieve this goal. The OSCE Programme Office’s support will help enhance the capacity of relevant authorities to recover illegally removed assets, ultimately contributing to the stability and security of the region.