On Friday 9 June in Luxembourg, the Council of the European Union adopted its negotiating mandate for the Directive on the freezing and confiscation of assets of criminal groups (see EUROPE 12960/6), which lays down minimum rules on the tracing, identification, freezing, confiscation and management of criminal assets.
The proposed rules will also apply to breaches of sanctions.
The new directive will also require Member States to ensure that the authorities responsible for tracing, freezing and managing criminal money have qualified staff and appropriate financial, technical and technological resources.
The mandate strengthens the powers of asset recovery offices and the exchange of information between national asset recovery offices. Governments must ensure that they have access to the relevant national databases and registers.
A new rule on the confiscation of unexplained wealth will, under certain conditions, allow assets to be confiscated on the basis of involvement in organised crime. This form of confiscation does not require a criminal conviction.
On asset management, Member States will have to designate authorities (asset management offices) responsible for managing frozen or confiscated assets. Member States will also have to allow the transfer or sale of frozen assets even before a final judgement has been handed down.
Link to mandate: https://aeur.eu/f/7ef (Original version in Frency by Solenn Paulic)