EC Dives Into Tackling Organized Crime Head-On

13 60

EC adopts law on assets recovery, confiscation related to organized crime

The European Union (EU) Council adopted a law on Friday that sets up baseline rules for EU countries regarding the tracing, identification, freezing, confiscation and management of criminal property in connection with a wide range of crimes, reported Xinhua.

According to the Council, the new law is aimed at better equipping EU member states in their fight against organized crime and the associated illegal profits and oblige EU countries to ensure that authorities have the resources they need for their activities.

These new rules will also apply to violation of sanctions.

In terms of freezing and confiscating assets, EU countries will have to enable the freezing of property. The instrumentalities and proceeds from a criminal offense will be seized in case a final conviction is issued.

Confiscation will also be possible if criminal assets or property of equivalent value are transferred to a third party, provided that the third party knew or should have known that the transfer was made to avoid confiscation.

A reinforcement of asset recovery offices in charge of cross-border cooperation is foreseen regarding asset recovery and management. These offices will support national authorities and the European Public Prosecutor's Office in investigations into asset tracing.

After the new law enters into force, EU member states will have 30 months to incorporate it into their national legislation.

Source: www.dailyfinland.fi

13 Comments
  1. EmilySmith says

    Does this new law address any specific challenges faced by EU countries when it comes to confiscating criminal assets across borders?

    1. TomJohnson says

      Yes, EmilySmith, this new law directly tackles one of the biggest obstacles faced by EU countries in confiscating criminal assets – the lack of uniform guidelines. By setting up baseline rules for all member states, the law aims to streamline the process of tracing, freezing, and confiscating illegal profits across borders, ultimately strengthening the fight against organized crime within the EU.

  2. AliceSmith says

    It’s about time the EU took a strong stance against organized crime. These new laws seem promising in combating illegal activities and ensuring that criminals can’t profit from their wrongdoings. Let’s hope member states act swiftly to implement and enforce them effectively.

  3. EmilySmith123 says

    Does this new law specify any particular measures for tackling money laundering in connection with organized crime activities?

    1. MarkJohnson456 says

      Yes, the new law encompasses measures aimed specifically at tackling money laundering activities linked to organized crime. It sets out guidelines for the tracing, freezing, and confiscation of criminal assets, including those involved in money laundering schemes. By obliging EU countries to enhance their resources and cooperation in these efforts, the law aims to strengthen the fight against organized crime and its financial operations.

  4. Emily_Smith says

    How will the new law ensure that EU countries have the necessary resources for fighting organized crime effectively?

    1. Max_Williams says

      The new law will mandate EU countries to ensure that authorities have the resources they need for their activities in fighting organized crime effectively. This will involve providing the necessary funding, technology, and manpower to combat such criminal activities.

  5. EmilySmith_92 says

    How will this new EU law affect small businesses operating across multiple member states in terms of financial regulations and asset management?

    1. MarkJohnson_85 says

      Small businesses operating across multiple EU member states may face increased scrutiny and compliance requirements under this new law. Financial regulations regarding asset tracing, freezing, and confiscation will be more strictly enforced, potentially impacting the management of assets for these businesses. It’s essential for small businesses to stay informed and adapt their practices to ensure compliance with the new regulations.

  6. EmilySmith82 says

    It’s great to see the EU taking concrete steps to combat organized crime. These new rules will definitely help in tackling the issue effectively and ensuring that criminals are deprived of their illegal profits. I hope to see significant progress in the fight against such illicit activities with the implementation of this law.

  7. EmilySmith says

    It’s great to see the EU taking decisive action against organized crime. These new rules will definitely strengthen the fight and help in freezing and confiscating criminal assets. It’s crucial for EU member states to work together and allocate resources effectively to combat such illegal activities.

  8. SarahJones89 says

    These new rules are a crucial step in combating organized crime effectively. It’s essential for EU countries to work together to tackle this issue and prevent criminals from profiting from illegal activities. I hope this law will lead to more successful prosecutions and asset recoveries across borders.

  9. EmilySmith_89 says

    These new rules are a much-needed step in the right direction towards combating organized crime more effectively within the European Union. It’s crucial that member states have the necessary tools and resources to tackle illegal activities and ensure that criminals are held accountable for their actions. I believe this law will play a significant role in enhancing coordination and cooperation among EU countries to disrupt criminal networks and prevent them from profiting from their illicit activities.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.