MEPS APPROVE NEW CRIMINAL ASSET CONFISCATION LAW
March 15th, 2024
The European Parliament (EP) has approved a European Union (EU) directive negotiated with the EU Council of Ministers that will insist the 27 member states have appropriate regulations and procedures to freeze and confiscate the proceeds of crime.
This legislation was prompted by concerns that only 2.2 % of the proceeds of EU-focused crime are currently confiscated.
Under the finalised text (1), which still needs formal (anticipated) approval from the Council, EU governments will have to ensure "the swift tracing and identification of instrumentalities and ...
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