Revenues from the administration of seized and confiscated assets to double in 2024

The Agency for the Administration of Sequestered and Confiscated Assets (AAPSK) has doubled its income from the rental of seized and confiscated properties in 2024, compared to 2023, writes A2 CNN. Referring to the figures, the Agency's income from the rental of these properties for 2024 was 159 million lek, or 96.2% more than in 2023. The income secured from the rental in 2023 was 81 million lek.

The increase in revenue was achieved through increased efficiency and good management, as well as reduced expenses for the administration of seized and confiscated properties.   

The administration of confiscated and sequestered assets by the AAPSK is carried out based on Law No. 34/2019 “On the administration of seized and confiscated assets” as amended, Law No. 10192, dated 3.12.2009, “On the prevention and suppression of organized crime and trafficking, through preventive measures against assets” (Anti-Mafia Law), as well as Decisions of the Council of Ministers (VKM) that determine the procedures for the administration and use of these assets.

Based on the aforementioned legal and sub-legal acts, AAPSK manages seized and confiscated assets to generate income through leasing or other forms of use by third parties. Meanwhile, assets that are depreciated or considered unusable may be subject to sale procedures, but this can only happen with a decision of the Inter-institutional Committee for Measures Against Organized Crime.

Regarding asset management, the AAPSK manages and leases seized and confiscated assets to generate revenue. The leasing of these assets helps cover the costs of their administration and maintenance. Furthermore, the collected revenues are used for purposes specified by law, including compensation for victims of crime or other purposes determined by the authorities, including financial and/or infrastructural support for law enforcement agencies.

This mechanism ensures that seized and confiscated assets do not remain unused, but are used to generate revenue for the state and for public purposes. (A2 Televizion)