Based on the conclusion of the Government of the Federation of Bosnia and Herzegovina, in accordance with the reform commitment to strengthening organized crime and financial abuse, the Office for confiscation of property acquired – ARO (Asset Recovery Office) was officially formed.
This specialized office has been established with the aim of more efficient identification, locating, temporary and permanent confiscation of illegally acquired assets, in accordance with the laws of the Federation of BiH and international standards.
Its role is multiple in the fight against crime, with a special focus on financial crime and illegally acquired assets. Its main goal is to ensure an efficient system of identification, freezing, management and permanent confiscation of property benefits obtained by the execution of crimes.
One of the primary functions aro offices is the implementation of professional financial investigations, which are aimed at detecting cash flows and other forms of assets acquired in an illegal way. In this process, ARO acts as a central point for coordination between different institutions – including police, prosecutors’ offices, courts, tax authorities and other competent institutions – with the aim of establishing efficient and operational cooperation.
The Office has access to numerous databases and registers, which enables it to precise property recording, its freezing and possibly download in accordance with legal procedures.
In addition, ARO is in charge of developing professional analyzes and periodic reports on seized property, which contributes to better information and construction of strategies in the field of financing crime. Based on the collected data and trends, the Office proposes legal and institutional improvements to improve the overall efficiency of the system.
A particularly important role of ARO offices is also reflected in the provision of technical and professional support to judicial institutions. This support refers to all phases of the procedure for confiscation of assets – from the initial identification to the final permanent confiscation and management of that property in favor of the state.
By the formation of Aro, the Federal Police Directorate continues the implementation of strategic measures in order to strengthen the rule of law and the rule of law and return of illegally acquired property owned by the company, writes Clix.
