Revision of the EU rules on asset recovery and confiscation [EU Legislation in Progress]

Written by Beatrix immenkamp (2nd edition, updated on 28.05.2024).

The confiscation of criminals’ illicit profits is considered an effective tool in the fight against organised crime, identified as a major threat to EU security. However, despite the comprehensive set of EU rules on asset freezing and confiscation, there are still obstacles on the path to recovering criminal assets, as shown by the European Commission’s June 2020 evaluation of the 2014 directive on freezing and confiscation of instrumentalities and proceeds of crime and the 2007 Council decision on asset recovery offices (AROs). To address this situation, in May 2022 the Commission adopted a proposal to amend the 2014 directive with a view to strengthening the EU’s asset recovery and confiscation rules and reinforcing the powers of AROs.

In the European Parliament, the Committee on Civil Liberties, Justice and Home Affairs adopted its report on 23 May 2023. On 12 December 2023, the co-legislators reached a provisional agreement on the text in interinstitutional negotiations. On 13 March 2024, the European Parliament adopted its position at first reading by 598 votes to 19, with 7 abstentions. The Council adopted the directive on 12 April 2024, and on 2 May 2024 the final act was published in the Official Journal. Member States must transpose the directive by 23 November 2026.

Versions

• May 2024: Revision of the EU rules on asset recovery and confiscation (2nd edition)