News
EU Clears the Way for Easier Asset Forfeitures
By Colby Adams
printEuropean Union nations must harmonize their asset forfeiture and property confiscation laws to comply with a directive adopted Friday by leaders of the economic bloc. In an effort to ease cross-border investigations of the estimated 3,600 organized crime groups operating within the European Union, member-states must harmonize their definitions of criminal proceeds subject to seizure and ease related confiscations, the Council of Ministers mandated Friday. "Criminal proceeds can include any property, including that which has been transformed or converted, fully or in part, into other property and that which has been intermingled with property acquired from legitimate sources, up to...
TO READ THE FULL STORY
Related News
EU parliamentarians voted Tuesday to require member-states to update their laws targeting money launderers and the financiers of terrorism, in part by naming corporate owners.
A European Parliamentary committee Thursday approved far-reaching changes to the EU's rules combating money laundering and terrorist financing, including an amendment that would require nations to publicize corporate owners.
The European Union agreed Thursday to impose financial sanctions against Ukrainians linked to a violent crackdown on protestors that has resulted in the deaths of at least 75 people since Tuesday.
The expected approval of amendments to the EU's proposed Fourth Anti-Money Laundering Directive will shine greater light on tax evaders and financial criminals hiding behind shell companies and trusts, according to Judith Sargentini, a Dutch member of the European Parliament.
European parliamentary members are set to require countries to publish registries naming the beneficial owners of privately-held corporations and trusts as part of a broad overhaul to the EU's anti-money laundering rules.
An EU plan approved Thursday that could force banks in member-states to open accounts for most applicants would complicate anti-money laundering compliance efforts, according to critics.
The EU Parliament adopted final recommendations Wednesday that would establish a public prosecutor's office and require member nations to ascertain the beneficial owners of companies incorporated within their jurisdictions.
A panel of European Union lawmakers approved plans Tuesday to harmonize definitions of corruption and money laundering throughout the bloc and ease asset seizures