The European Parliament adopted on Thursday a new regulation paving the way for accelerated freeze and confiscation criminal assets, the institution said in a statement.
MOSCOW (Pakistan Point News / Sputnik - 04th October, 2018) The European Parliament adopted on Thursday a new regulation paving the way for accelerated freeze and confiscation criminal assets, the institution said in a statement.
"MEPs [members of the European Parliament] adopted on Thursday new rules to speed up the freezing and confiscation of criminal assets across the EU. The new rules, already informally agreed between Parliament's negotiators and EU ministers in June, will make it quicker and simpler for EU member states to ask each other to freeze criminal assets or confiscate criminal property," the statement read.
According to the European Parliament, depriving criminals of their property is an important tool for fighting organized crime and terrorism.
The new regulation envisages introduction of 45-day deadlines for the EU member states to execute orders from other EU countries on assets freeze and confiscation. The new measures will also include standardization of relevant documents across the European Union, and grant an EU country the right to confiscate assets of people linked to criminals. Besides, the regulation envisages stronger protection of victims' rights.
"This tool for mutual recognition of freezing and confiscation orders strengthens European justice. It is fairer for the victims and reinforces our fight against the financing of terrorism. Parliament will be watching closely to ensure that the new rules are implemented fast and effectively," the European Parliament's rapporteur, Nathalie Griesbeck, said, as quoted in the statement.
The regulation was approved by 531 to 51 votes with 26 abstentions. The rule is yet to approved by the EU Council.
