EU Council adopts law on assets recovery, confiscation related to organized crime

STORY: EU Council adopts law on assets recovery, confiscation related to organized crime SHOOTING TIME: April 12, 2024 DATELINE: April 13, 2024 LENGTH: 00:00:51 LOCATION: Brussels CATEGORY: LAW SHOTLIST: 1. various of European Commission Berlaymont building STORYLINE: The European Union (EU) Council adopted a law on Friday that sets up baseline rules for EU countries regarding the tracing, identification, freezing, confiscation and management of criminal property in connection with a wide range of crimes. According to the Council, the new law is aimed at better equipping EU member states in their fight against organized crime and the associated illegal profits and obliges EU countries to ensure that authorities have the resources they need for their activities. These new rules will also apply to violation of sanctions. In terms of freezing and confiscating assets, EU countries will have to enable the freezing of property. The instrumentalities and proceeds from a criminal offense will be seized