Quicker freezing and confiscation of criminal assets in the EU

Berlaymont 2018

© European Union , 2018 / Source: EC – Audiovisual Service / Photo: Mauro Bottaro

This article is brought to you in association with the European Parliament.New rules to speed up the freezing and confiscation of criminal assets across the EU were adopted by the Civil Liberties committee on Tuesday.

This legislation, already informally agreed between Parliament and Council negotiators on 14 June, should make it quicker and simpler for EU member states to ask each other to freeze criminal assets or confiscate criminal property.

Parliament and Council negotiators agreed on:

  • introduction of deadlines: an EU country that receives a confiscation order from another EU country will have 45 days to execute the order; cross-border freezing orders have to be executed with the same speed and priority as national ones. Authorities will have four days to freeze the assets in the case of urgent freezing requests,
  • standard documents: standard certificates and forms will be used to ensure that EU countries act faster and communicate more efficiently,
  • wider scope: where requested, EU countries will be able to confiscate assets from other people connected to the criminal and they can also act in cases where there is no conviction (e.g. if the suspect has fled), and
  • victims’ rights: victims will be the first in line to receive compensation when distributing confiscated assets.

Depriving criminals of their assets is an important tool for fighting organised crime and terrorism. However, currently only an estimated 1.1% of criminal profits are confiscated in the EU.

Quote

Rapporteur Nathalie Griesbeck (ALDE, FR) said: “I’m glad that this regulation has been adopted; it is the product of constructive work between the EU institutions. The Parliament made sure that the new instrument is faster, more efficient, more operational and also fairer for the victims, for all those affected and based on the respect for fundamental rights.”

Next steps

Civil Liberties MEPs adopted the new rules by 43 in favour, 2 against, 1 abstention.

The agreed text now needs to be formally approved by the Parliament as a whole and the Council before entering into force. The new rules will apply 24 months after their entry into force.

Background

According to a Europol study from 2016, 98.9% of estimated criminal profits in the EU are not confiscated and remain at the disposal of criminals. Between, 2010 and 2014, 2.2% of estimated criminal profits were provisionally seized or frozen but only 1.1% were finally confiscated at EU level.

the sting Milestone

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Antitrust: Commission publishes study on the application of Interchange Fees Regulation

8 fascinating and fearsome frontiers of science you should know about

Security Union: political agreement on strengthened Schengen Information System

Right-wing “sovranism” harm national identity

We can save the Earth. Here’s how

Thursday’s Daily Brief: Women in peacekeeping, the arrest of Sudan’s leader, updates on Libya, Nigeria and Syria

Protecting whistle-blowers: new EU-wide rules approved

The Chinese retail revolution is heading west

The Czech economy is thriving but boosting skills and productivity and transitioning to a low-carbon productive model is vital to sustainable and inclusive growth

Safer roads: More life-saving technology to be mandatory in vehicles

Crimea: The last bloodless secession of a Ukraine region?

Education critical to ensure future of forests, and reverse their destruction

These refugee children have danced in the snow for the first time

They have more than 30 words for “apple core”, and other things you didn’t know about Switzerland

COP24: Huge untapped potential in greener construction, says UN environment agency

New migration pact highlights key role of business in protecting migrants, say UN experts

Trump wants to implicate China in US attacks against global order

After Rio Grande tragedy, UNICEF chief highlights ‘dire’ detention centres on US-Mexico border

Parliament boosts consumer rights online and offline

Humanitarian migration falls while labour and family migration rises

Cocaine and opium production worldwide hit ‘absolute record highs’ – major threat to public health says UN study

Council’s position on Visa Directive a step back for young people’s mobility

A Sting Exclusive: “Cybersecurity: Why consumer products must be looked at urgently”, by BEUC’s Deputy Director General

‘Dire consequences’ for a million children in the Middle East, North Africa, as funding dwindles

What changes in the EU as from today

Coronavirus (COVID-19) update: Busting the myth by looking at the facts

MWC 2016 LIVE: Stripe gives payments leg-up to startups in emerging markets

Strengthening the rule of law through increased awareness, an annual monitoring cycle and more effective enforcement

UNICEF backpacks used as a haunting symbol to call for greater protection of children living in conflict

Lagarde: Keep feeding the banks cut down wages and food subsidies

Thousands of Belgian schoolchildren have gone on strike to protest climate change

‘Working night and day’, UN health agency seeks to prevent global coronavirus crisis

EU Council agrees to reform the system for motor vehicles but with “restricted” power for the Commission

Single Market Scoreboard 2020: Member States need to do more to ensure the good functioning of the EU Single Market*

Child victims of DRC Ebola outbreak need ‘special attention and care’: UNICEF

Finally an answer to the hottest question of European youth today: How to make sure Juncker’s Investment Plan works for youth

The multidisciplinary team facing the multidrug resistant form of Tuberculosis in the state of Amazonas (Brazil)

Adolescent health has been overlooked for too long

Worldwide terror attacks have fallen for the third year in a row

Ukraine: turning challenges into opportunities


Conditions deteriorating alarmingly in Yemen, warns senior UN official

Why is the Strait of Hormuz so important?

5 times people predicted the future and got it really wrong

Failure to open accession talks with Albania and North Macedonia is a mistake

The impact of COVID-19 on the life of the elderly

In the future of work it’s jobs, not people, that will become redundant

Last-chance Commission: Why Juncker promised investments of €300 billion?

Long-term EU budget: The Union’s ambitions must be matched with sufficient reliable funding

The 3 traps when it comes to blockchain and business – and how to avoid them

European Commission reacts to the US restrictions on steel and aluminium affecting the EU

Newly licensed vaccine, ‘milestone in the fight’ against Ebola in Africa, UN health agency

Internet Forum: Prioritize technologies most needed for sustainable development

Strict alcohol laws which cut intake more than 40 per cent in Russia, linked to historically high life expectancy

The recipe for creativity involves a lot of ideas, and a short break

Investigate alleged pushbacks of asylum-seekers at the Greek-Turkish border, MEPs demand

The Venezuelan exodus to Roraima and its repercussions

Fairness in the food supply chain: Commission proposes to increase price transparency

Prospect of a nuclear war ‘higher than it has been in generations’, warns UN

Colombia’s former president says COVID-19 shows the importance of listening to indigenous peoples on how we treat the planet

Trade defence report: restoring the level playing field for European producers

More Stings?

Advertising

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s