Scientific Journal of the National Academy of Internal Affairs

Article examines powers and authority of State Financial Monitoring Service of Ukraine which still functions in a limited scope of competence concerning the illegal assets recovery. It is stated that among the significant steps made by the Ukrainian government to improve the present situation with tracing, search and recovery of assets we can mark establishment of National Agency of Ukraine for Illegal Assets Detection, Search and Management, execution of an interagency cooperation agreement and accreditation of National Anti-Corruption Bureau of Ukraine for detection of “corrupted” financial assets. Also it provides comprehensive analysis of legislative defects in terms of illegal property confiscation.