Financial Crime World

Romania’s ANABI Agency Revolutionizes Asset Recovery

In a bold move to tackle corruption and organized crime, Romania has established the Anti-Money Laundering and Asset Recovery Initiative (ANABI), a unique agency that combines asset recovery and management under one roof.

Key Features

  • Inter-agency cooperation with national and international prosecuting bodies
  • Multi-disciplinary staff with legal and economic backgrounds
  • Effective combination of asset recovery and management within one agency
  • Annual external audit, ensuring transparency and accountability

Outcomes and Results

In its first five years, ANABI has achieved impressive results:

  • Seized assets worth EUR 200 million
    • Sold moveable assets for approximately EUR 6 million
    • Reused immovable assets
    • Managed virtual currency accounts in international organized crime cases
  • Recent developments include the sale of atypical and complex goods, such as shares and industrial equipment, and the reuse of a confiscated building as headquarters for a public institution

International Cooperation

ANABI is actively involved in international cooperation networks, having held the Camden Asset Recovery Inter-Agency Network (CARIN) Presidency in 2019. The agency has also submitted recommendations to the European Commission on policies related to asset recovery, focusing on:

  • Tracing and recovering criminal assets from corporate structures and entities
  • Addressing cooperation with offshore jurisdictions

Challenges and Lessons Learned

Despite initial skepticism due to Romania’s political situation, ANABI has proven its effectiveness through its internal organization, experienced staff, and trust-building efforts. The agency has overcome challenges by adapting international best practices to the country’s specific needs and institutional landscape.

Potential for Transferability

ANABI’s success story serves as a model for other countries looking to establish similar agencies. By building on existing national institutions and networks, countries can create their own effective asset recovery systems with limited financial and human resources.

As ANABI demonstrates, even small agencies can have significant impacts on deterring crimes and changing cultural beliefs about the consequences of criminal activity.