Asset recovery in the European Union: implementing a “no safe haven” strategy for illicit proceeds

George Pavlidis

Journal of Money Laundering Control, 2021, vol. 25, issue 1, 109-117

Abstract: Purpose - This paper aims to explore existing and proposed methods for enhancing asset recovery and targeting the proceeds of illicit trades and other types of criminal activity in the European Union (EU). Consistent and comprehensive implementation is needed at several levels (preventive measures, financial investigations, criminal proceedings and asset freezing and confiscation) to create a European “no safe haven” strategy for dealing with illicit proceeds. Design/methodology/approach - This paper draws on primary sources of law, legal scholarship, reports and open-source data to explore the existing and proposed methods for enhancing asset recovery in the EU. Findings - The EU should expand and accelerate harmonization initiatives that target illicit proceeds in cross-border cases by using the building blocks of asset recovery (preventive measures, criminal proceedings, financial investigations and asset freezing and confiscation) in a consistent and complementary manner. Originality/value - This comprehensive study examines the existing asset recovery tools and explores new methods for enhancing the associated EU legal framework.

Keywords: European union; Money laundering; Financial investigations; Asset freezing; Asset confiscation; International cooperation (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-11-2020-0131

DOI: 10.1108/JMLC-11-2020-0131

Access Statistics for this article

Journal of Money Laundering Control is currently edited by Dr Li Hong Xing and Prof Barry Rider

More articles in Journal of Money Laundering Control from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().