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MEPs vote to speed up the freezing and confiscation of criminal assets \nPress Releases  LIBE   Yesterday  \n \n Share this page: \nFacebook  Twitter  LinkedIn  WhatsApp \nMake seizing criminal assets across the EU faster and more efficient \nNew rules to cover also nuclear material trafficking and crimes under jurisdiction of International Criminal Court \nBetter identification of assets to ensure watertight sanctions against third countries \nIn 2010–2014, only 2.2% of the proceeds of crime were frozen in the EU \n\nThe new legislation on seizing criminal assets would ensure fast and efficient freezing operations everywhere in the EU, and quicker compensation for victims.\n\nTo speed up asset freezing and confiscations and close loopholes, MEPs on the Civil Liberties, Justice and Home Affairs Committee adopted on Tuesday a draft position on new rules with 50 votes in favour, 1 against, and 4 abstentions. Trilogue negotiations were authorised with 53 in favour, 0 against, and 2 abstentions.\n\nCompared to existing legislation, the new directive would also cover trafficking in firearms, certain crimes committed as part of a criminal organisation and the violation of EU sanctions. In their position, MEPs propose to include also illegal trafficking of nuclear material, crimes falling within the jurisdiction of the International Criminal Court, the illegal seizure of aircraft and ships, and sabotage.\n\nThe agreed text would close loopholes by ensuring assets can be frozen quickly, with temporary urgency measures where necessary. The proposal would also crack down on those evading confiscation with the help of a third person, and allow confiscation in certain cases where conviction is not possible, for example in cases of illness or death of a suspect.\n\nTo make cross-border investigations more efficient, the law would harmonise the powers of asset recovery offices set up by member states, ensuring that they get access to necessary information, such as beneficial ownership registries, securities and currency information, customs data and annual financial statements of companies. Finally, to prevent assets from degrading, member states would have to set up dedicated offices to manage confiscated assets.
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