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NEWS: Europe gives green light to law on asset recovery and confiscation

ORGANISED CRIME: A new EU law agreed today means Member States will need to enable the freezing of property and, in the event of a final conviction, the confiscation of instrumentalities and proceeds stemming from a criminal offence. In addition, they will have to adopt rules allowing them to confiscate property of a value corresponding to the proceeds of a crime. Our file photo shows a police seal sticks at a door in Siegen, Germany, May 3, 2023, after German police arrested dozens of people across the country in an investigation of the Italian 'Ndrangheta organised crime group.

By ALISHA HOULIHAN for AML Intelligence THE EU today (Friday) adopted a law which sets out EU-wide minimum rules on the tracing, identification, freezing, confiscation and management of criminal property in connection with a wide range of crimes. “The directive will better equip member states in their fight against organised crime and the associated illegal…

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