Luanda - Angola is still looking for a more effective model for assets recovery, compatible with the guarantee of the fundamental rights of the defendants, said Monday, in Luanda, the Presiding Judge of the Criminal Chamber of the Supreme Court, Daniel Modesto.
At the opening of the Workshop on Asset Forfeiture, being attended by judges from all the provinces of Angola, Daniel Modesto said that asset recovery is still a priority for Angolan legal institutions, which are attentive to crime and are committed to applying the best international practices in the area of asset seizure.
Such measure happens through appropriate tools "as well as with the guarantee of due legal process, but, on the other hand, with the need for speed and efficiency in the recovery of these assets, ensuring that this is done in good time, preserving the social value of the assets recovered," he emphasised.
The magistrate said that there was a need for greater coordination and cooperation in the area of exchanging financial information between countries and recovering assets that had been unlawfully transferred away from their legitimate origins or to tax havens, either through international or regional cooperation platforms or bilateral agreements.
He added that Angola is facing all these challenges and has made an effort to do so since peace was achieved, not only from a legislative point of view, as in the case of the approval of the Anti-Money Laundering Law, but also the constitutional granting of the Central Bank (BNA) autonomy.
The justice also pointed to the approval of the Asset Recovery Law, the strategy for matching recovered assets, the approval of the Public Appropriation Law, but also the creation and strengthening of institutions aimed at preventing and fighting money laundering, as well as adherence to international instruments, such as the international convention against corruption and membership of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG).
In his view, Angola continues to demonstrate that it is committed to implementing the recommendations of the group, which advocates the recovery of assets related to all underlying money laundering offences, including corruption and embezzlement.
The event is part of the Project to Support the Strengthening of the National Asset Forfeiture System in Angola, funded by the European Union (EU), aiming to develop an effective system to fight illicit financial flows and contribute to greater economic growth and poverty reduction in Angola.
The workshop is being attended by 38 judges from the country's 18 judicial provinces, and similar training has already been organised for the Criminal Investigation Service (SIC) and the Attorney General's Office (PGR).
Asset Recovery
According to the latest figures, Angola has so far recovered 7.6 billion US dollars as part of the process of fighting corruption and recovering assets.
Part of this money is being used in the Municipal Investment and Intervention Programme (PIIM), to build schools and other social infrastructures.
However, more than 12 billion dollars have been seized and are being held as assets, as there is a fear that the defendants will dispose of them before they are executed.
FMA/VIC//MRA/jmc
