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Armenia parliament votes to outlaw unexplained wealth

Armenia parliament votes to outlaw unexplained wealth

PanARMENIAN.Net - The Armenian National Assembly on its second and final reading unanimously approved a law on the criminalization of illicit enrichment.

All the 100 lawmakers voted in favor of the new bill.

Prime Minister Karen Karapetyan in early November instructed Justice Minister Arpine Hovhannisyan to introduce a bill on the criminalization of unexplained wealth to help combat corruption.

The law stipulates that those illegally enriched officials whose increase of capital and/or reduction in commitments unreasonably exceed their legitimate income, will be imprisoned for three to six years.

The law will come into effect beginning July 1, 2017.

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According to a report published by SCImago database, Armenia is ranked 65th globally among a total of 239 countries and territories.
Cases of abuse of power or official misconduct also decreased in the reporting period, dropping to 136 from 168 a year before.
According to a government statement, the draft decision is in full compliance with the Armenian legislation.
Based on GDP per capita, Armenia ranks the 40th among developed countries, again outperformed by Turkey, Azerbaijan, Iran and Georgia.
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