Togo is establishing a national agency dedicated to recovering criminal assets, including bank accounts, real estate, and luxury goods, to combat money laundering and terrorism financing. Minister of Justice Pacôme Adjourouvi announced the initiative following a meeting in Lomé with the Asset Recovery Inter-Agency Network for West Africa (ARINWA), led by President Mor N’Diaye.
What specific assets will the new agency target?
The upcoming agency is tasked with identifying and locating wealth tied to criminal activity. According to the announcement, the scope of the agency’s authority includes bank accounts, real estate, vehicles, and jewelry.
The recovery process follows a specific legal sequence. Authorities will identify assets, freeze them during the investigation phase, and move for permanent confiscation once a conviction is secured. Once funds are recovered, the agency is responsible for returning them to the state and providing compensation to victims of fraud.
Asset recovery involves tracking assets—the cars, homes, and luxury items that criminals use—including bank accounts, real estate, vehicles, and jewelry.
How does this agency complement Togo’s existing financial oversight?
This new body does not replace existing structures but rather completes the country’s financial defense system. Currently, Togo utilizes the Cellule nationale de traitement des informations financières (CENTIF) to process financial intelligence.
This expanded framework is designed to meet the requirements of the West African Monetary Union (UMOA) regarding the fight against drug trafficking, money laundering, and the financing of terrorism.
How will ARINWA support Togo’s recovery efforts?
The Asset Recovery Inter-Agency Network for West Africa (ARINWA) has pledged technical support to assist Togo in this transition. President Mor N’Diaye confirmed that the network will provide access to its international connections to help local authorities track assets across borders.
ARINWA’s involvement focuses on several key areas:
- Facilitating rapid information exchange between West African nations.
- Strengthening judicial and police cooperation across borders.
- Providing specialized training for investigators, magistrates, and competent authorities.
The network operates in collaboration with major international bodies, including the United Nations Office on Drugs and Crime (UNODC), the CARIN network, and the Financial Action Task Force (FATF/GAFI). These partnerships are essential for improving the traceability of illicit funds.
Frequently Asked Questions
What is the main goal of Togo’s new asset recovery agency?
The agency aims to identify, freeze, and confiscate assets derived from criminal activities to return funds to the state and compensate fraud victims.
What is ARINWA?
ARINWA stands for the Asset Recovery Inter-Agency Network for West Africa. It is a regional network that helps authorities fight corruption, money laundering, and terrorism financing through information sharing and training.
Which types of property can be seized?
The agency can target bank accounts, real estate, vehicles, and jewelry linked to criminal proceeds.
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