MONITORING LEGISLATION IN THE FIELD OF ASSET RECOVERY

Abstract

The author examined the legislation of foreign countries on the return to the state of illegally acquired and withdrawn assets, as well as methods for their return in a variety of situations, especially when criminal confiscation is impossible or cannot be applied. The Act of the Republic of Kazakhstan «On the return of illegally acquired assets to the state» (hereinafter referred to as the Act), adopted on July 12, 2023, and legal instruments for the return of these assets, including assets abroad, are analyzed. The Act in general is generally characterized by a subjective, purely evaluative approach to whether a particular asset can be classified as illegally acquired, whether it is subject to seizure or not. This is indicated by the use of such phrases as «reasonable doubts», «presumed presence in property, use, possession». The danger of this approach lies in the lack of clear legal criteria, which creates the threat of abuse by officials and law enforcement agencies. The lack of legal criteria creates limitless eventual possibilities for raiding. It should be noted that due to the vastness of the topic under study, the author was not able to consider in one publication all the norms that contradict current high-level legislative acts (including constitutional laws and codes), including the subsequent effect on the national legal system of Kazakhstan from the operation of such a Act.