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“The threshold for confiscation of property of illicit origin has been increased from 25 million drams to 50 million drams," Armenian Minister of Justice Rustam Badasyan said at a parliament session on Wednesday, presenting the draft law on making amendments and supplements to the law “On Confiscation of Property of Illicit Origin."

He noted that for many years international partners have called on Armenia to introduce a mechanism by which certain confidential information will become available during the investigation of corruption offences. "Why should the Central Bank have access to the confidential information, while other state structures not?" Of course, we trust the Central Bank and we introduced the bill by agreeing the measure with it,” he said.

The justice minister stressed that it is for the relevant competent body to substantiate allegations that a person has acquired property of illicit origin.

If the state says that a person is not an acquirer in good faith, the state must prove it, the minister added.

"Persons who have received property in compensation for damage to life or health have been freed from the obligation to return the property, regardless of whether they are aware of the origin of the property or not. It has been clarified that the confiscation of property does not take away the rights of bona fide acquirers, including pledgees, on it,” Badasyan stressed.

According to the minister, the draft law mostly covers cases of up to 10 years.