Illicit Financial Flows and Asset Recovery in the Republic of Armenia


The European Union and the United Nations Interregional Crime and Justice Research Institute (UNICRI) are proud to launch a series of studies on Illicit Financial Flows and Asset Recovery. These studies shed light on the significant damage being caused to States as a result of unchecked IFFs, and on the significant value of prioritising the capture of illicitly-obtained assets linked to such IFFs.

Despite not having yet established a dedicated Asset Recovery Office (ARO), Armenia has made major improvements in terms of complying with the FATF Recommendations. The country has in fact several subdivisions and independent bodies which are in charge of combating organised crime, money laundering or the financing of terrorism. Many efforts are still required by the international community and an increased focus on the seizure, confiscation and recovery of illicitly-obtained assets is essential. As IFFs in developing countries, such as Armenia, mean fewer hospitals, schools, police, roads, pensions and job opportunities, reinvesting recovered assets into high-priority development needs is key to improving overall socio-economic development.

Find the report here: