Learning about the Civil Asset Recovery and Unexplained Wealth Act
The Civil Asset Recovery and Unexplained Wealth Act became law in early August. It empowers the Financial Intelligence Unit (FIU) to recover assets obtained through criminal means. For this week, stakeholders will gather in Belize City where they will learn more about the purpose of the ACT and how to enforce it. The training is being facilitated by the FIU and the U.S. Embassy’s Bureau of International Narcotics and Law Enforcement Affairs. It started today and Hipolito Novelo reports.
Hipolito Novelo, Reporting
It came into effect back in August, and today the Civil Asset Recovery and Unexplained Wealth Act was the focus of a joint initiative between the Financial Intelligence Unit and the US Embassy’s Bureau of International Narcotics and Law Enforcement Affairs. This Act gives the FIU the authority to recover assets and wealth acquired by individuals through criminal means. These persons will be investigated and according to Financial Secretary Joseph Waight, anyone who is living in Belize can be the subject of the investigation.
Joseph Waight
Joseph Waight, Financial Secretary
“This basically says, look, with the capacity and the training that we hope to get over the in the coming months, this will give the authorities the tools to be able to say, look, you know, if something looks cute, something looks funny, something looks unexplained look into it and see if it’s proven that it is from an illegal source, it can be seized.”
Hipolito Novelo
“Includes everyone?”
Joseph Waight
“Everyone.”
Hipolito Novelo
“Including the Prime Minister?”
Joseph Waight
“Yeah, he’s a citizen as well.”
Hipolito Novelo
“A leader of a religious community?”
Joseph Waight
“Anybody who has unexplained wealth.”
The legislation empowers the FIU to obtain an Unexplained Wealth Order in cases of suspicion. Once that court order is issued, the subject will be compelled to elucidate and disclose the origins of their assets and wealth before the High Court. Leni Ysaquirre McGann is the Director of the F.I.U.
Leni Ysaguirre McGann
Leni Ysaguirre McGann, Director, F.I.U.
“We are the primary agency that will be responsible for making civil asset recovery applications or unexplained wealth applications. Both of those applications are applications that can take place without the need for a criminal conviction. We bring the person in relation to any property before the court and make an application and ask for that property in consideration of the fact that it represents the proceeds of crime be recovered or that unexplained wealth order. In that case, it would be an application in the first stage that the person is able to then provide a declaration accounting for. That property and then based on that declaration, the court will determine whether or not it would make unexplained wealth order. If of course the person cannot adequately respond to how they came about acquiring certain property.”
Police Commissioner Chester Williams says that this new act will allow police officers and the FIU to go after suspects.
Chester Williams
Chester Williams, Commissioner of Police
“We do have police officers who are entrenched at the FIU, who assist with investigations and other matters that the director may so wish for them to carry out. There are occasions when the police and FIU do work together on cases, and I believe that with this new law there are going to be much more of those occasions where we’re going to work together to go after persons who we believe are engaged in criminal activities and are benefiting financially from it to see how we can then forfeit their assets.”
And the owners of these assets have protections under this act.
Joseph Waight
“Imagine for a moment, one day you see some physical assets, big building going up or a number of cars or speed boats. This legislation will give the authority to inquire, well, what’s the source? You know, where it’s coming from? And if it can’t be, and if it’s proven that it’s an illegal source or unexplained wealth, it can be seized. But there’s a process, and there’s protections for the owners of these properties. It’s not just wanton and capricious.”
The weeklong training session is bringing together all stakeholders to familiarize themselves with the act. Dean Flowers is participating as the President of the Public Service Union. Flowers says he has an issue with the time restrictions imposed by the act.
Dean Flowers
Dean Flowers, President, P.S.U.
“It is a fact that as a country, as a people, we’ve been exploited not only by elected officials, but also by private citizens, including officials in the public sector. It is important that we get an understanding in terms of how this asset recovery goes. I will again express my disappointment that the legislation speaks specifically to, I believe, 12 years. But of course, if the matter is before a judge that judge can order that the investigation goes back to as much as 20 years. But I believe that where a country has been exploited in the manner in which we’ve been exploited, that law should have mirrored what we see in other developed countries, which is that there should have been absolutely no time limit on that.”
Reporting for News Five, I am Hipolito Novelo.
