On 20th June, the EU published a news release about the provisional political agreement reached by the European Parliament and Council on the Commission’s proposal for an EU Regulation on the freezing and confiscation of assets across borders which was confirmed by Member States. The proposal was adopted as part of the EU Action Plan to strengthen the fight against terrorist financing and contributes to completing the Security Union. The new Regulation will set a deadline of 48 hours to recognise and execute freezing orders. It will widen the scope of current rules on cross-border recognition: criminals can be deprived of criminal assets, even when the assets belong to their relatives. Finally, in cases of cross-border execution of confiscation orders, the victim’s right to compensation will have priority over States’ claims. See the factsheet from 21st December 2016 for more details –
http://europa.eu/rapid/press-release_MEMO-16-4467_en.htm