Money Laundering Issues and Recent Trends

Abstract

The legitimate aim of confiscation of property obtained by crime can be defined as the removal of property obtained by crime from the lawful civil circulation to prevent its further circulation and the commission of further criminal offences and to reduce the financial incentive to commit criminal offences. The author’s research into the case law and new trends has led to the conclusion that the qualification of property as criminally acquired requires time and understanding of the application of the relevant rules in practice. The study examines current issues in money laundering cases and recent trends. In many cases, the evidence presented to prove the legal origin of assets is often considered insufficient by the prosecution. In order to develop an understanding of what the proceeds of crime really are, an appropriate institution should be established with relevant economic expertise and understanding of business structure, to name the few. It has been often found that property or other assets are confiscated simply due to the lack of understanding or lacking education, knowledge and practical experience, which leads to unjustified decisions. Thus, assets are considered to be criminally acquired and confiscated for the benefit of the State. In this way, the State itself is put at risk, because sooner or later, a claim for compensation will be brought, as human rights violations are also detected.