Audit Bureau issues new regulations for agents managing seized funds in money laundering cases

The head of the Audit Bureau, Issam Al-Roumi, has issued Decision No. (143) of 2025, setting out new regulations and responsibilities for agents tasked with managing seized assets, including real estate and other properties, in connection with money laundering cases.

The decision, according to Al-Jarida daily, aligns with Public Prosecutor Decision No. (74/2025), issued on May 14, 2025, concerning Case No. 90/2022 – a high-profile money laundering confinement case.

The new directive outlines the framework under which appointed agents, designated in accordance with Article 24 of Law No. 1 of 1993 concerning the protection of public funds, must operate. The goal is to strengthen oversight, prevent conflicts of interest, and ensure transparent management of seized assets pending judicial resolution.

Under Article One of the decision, agents must adhere to the provisions laid out in Chapter Two of Part Three of Book Two of Decree Law No. 67 of 1980, unless these provisions conflict with the new regulations or future directives issued by the Audit Bureau.

Agents are required to safeguard the entrusted funds with the diligence expected of a prudent person. They are expressly forbidden from using the assets for personal benefit or engaging in transactions with the individuals whose assets have been seized. Delegation of duties to others is also prohibited without prior written approval from the Public Prosecutor.

Moreover, the agents’ responsibilities are limited to administrative functions. Should any action beyond administrative scope be necessary, agents must obtain written approval and justify the need for such actions. All requests or grievances regarding the seized funds must be referred to the Public Prosecutor.

Agents are obligated to disclose any conflicts of interest — whether with the seized assets themselves or with the individuals connected to them. They are also required to submit quarterly reports to the Public Prosecutor detailing the financial position, including statements of revenues and expenditures, cash flow, and an administrative account of all related operations. These reports must also be shared with the Audit Bureau within fifteen days of the quarter’s end. The Bureau will review these submissions and report any observations to both the agent and the Public Prosecutor.

The agent’s mandate continues until the case is concluded or until a decision is issued to lift the seizure. Should the agent choose to step down or if the appointment is terminated for any reason, they are expected to complete their ongoing responsibilities in a manner that protects the seized assets from harm.

Article Two of the resolution empowers the President of the Audit Bureau to issue further controls for certain agents if needed, based on the specific nature of the case and the interests of the managed assets. Article Three stipulates that the decision will be published in the Official Gazette and become effective the day after publication. All concerned authorities are required to enforce the decision according to their respective jurisdictions.

This decision represents a significant step toward reinforcing accountability and transparency in the management of seized assets in financial crimes, particularly those involving public funds and money laundering.