States reporting measures for freezing, seizure and confiscation of illicit proceeds

The illicit monies are often laundered, creating the impression that they are the proceeds of legitimate business activities.

Nearly three quarters of the respondents (73 per cent) had also successfully frozen, seized or confiscated proceeds from illicit drug trafficking (see figure VI).

In order to be effective, judicial cooperation must include, inter alia, mutual judicial assistance on criminal matters, cooperation in freezing illicit proceeds and extradition agreements.

Nearly three quarters of the respondents (73 per cent) had also successfully frozen, seized or confiscated proceeds from illicit drug trafficking, compared with 62 per cent in the reporting period 2000 2002 (see figure II).

The obligations of States under the Maputo Convention relate not only to laundering the proceeds of corruption, illicit enrichment and the funding of political parties, but also to cooperation and mutual legal assistance in combating corruption.

Special rules on proceeds

Laundering of proceeds of crime

Proceeds derived from the offence

Proceeds from revenue producing activities

Model bilateral agreement on the sharing of confiscated proceeds of crime or property covered by the United Nations Convention against Transnational Organized Crime and the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances of 1988

Information was also provided on the confiscation of assets and proceeds of crime and the sharing of such proceeds.

The illegal proceeds shall be confiscated and a fine of 1 5 times of the illegal proceeds shall be imposed.

(e) Preventing and combating the transfer of proceeds of offences established in accordance with this Convention and recovering such proceeds

Control of the proceeds of crime

All proceeds go to Prostate Cancer UK.

(a) Proceeds of crime derived from offences covered by this Convention or property the value of which corresponds to that of such proceeds

(a) The assignor has received the proceeds under instructions from the assignee to hold the proceeds for the benefit of the assignee and

Invites Member States, in concluding agreements with other States in the area of sharing proceeds of crime pursuant to the United Nations Convention against Transnational Organized Crime1 and the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances of 19882 or in revising existing bilateral agreements in that area, to take into account the Model Bilateral Agreement on the Sharing of Confiscated Proceeds of Crime or Property

5. Income or other benefits derived from proceeds of crime, from property into which proceeds of crime have been transformed or converted or from property with which proceeds of crime have been intermingled shall also be liable to the measures referred to in this article, in the same manner and to the same extent as proceeds of crime.

Criminalization of the laundering of proceeds of crime

Disposal of confiscated proceeds of crime or property

Accounting for proceeds from the sale of property

(a) The terms proceeds of crime , confiscation and property shall be understood as defined in article 2 of the United Nations Convention against Transnational Organized Crime and article 1 of the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances of 1988

(a) Proceeds of crime derived from offences established in accordance with this Convention or property the value of which corresponds to that of such proceeds

The Party transferring the proceeds of crime or property assumes no liability or responsibility for the proceeds of crime or property once they have been transferred and relinquishes all right or title to and interest in the transferred proceeds of crime or property.

6. Income or other benefits derived from such proceeds of crime, from property into which such proceeds of crime have been transformed or converted or from property with which such proceeds of crime have been intermingled shall also be liable to the measures referred to in this article, in the same manner and to the same extent as proceeds of crime.

Prevention and detection of transfers of proceeds of crime

Maintaining statistical data on seized proceeds of money laundering

Maintaining statistical data on confiscated proceeds of money laundering

(v) Disposal of confiscated proceeds of crime (article 14)

Money laundering and control of the proceeds of crime

Establishment of an intergovernmental expert group to prepare a draft model bilateral agreement on disposal of confiscated proceeds of crime covered by the United Nations Convention against Transnational Organized Crime and the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances of 1988

Where there are no illegal proceeds or the illegal proceeds are less than RMB30, 000, a fine of RMB30, 000 up to RMB300, 000 shall be imposed.

(g) Surveillance of the movement of proceeds of offences established in accordance with this Convention and of the methods used to transfer, conceal or disguise such proceeds

Property that is the proceeds of, or involved in, the financing of terrorism, terrorist acts or terrorist organisations can be confiscated through the Proceeds of Crime Act 2002.

Figure I States reporting measures against laundering proceeds of crime

Freezing, seizure and confiscation of proceeds of drug trafficking offences

Freezing, seizure and confiscation of proceeds of other serious crimes

Article 5 Sharing of confiscated proceeds of crime or property

Article 6 Payment of shared proceeds of crime or property

Terrorists are also often dependent upon the proceeds of crime.

Expresses its appreciation to the intergovernmental expert group to prepare a draft model bilateral agreement on disposal of confiscated proceeds of crime covered by the United Nations Convention against Transnational Organized Crime and the United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances of 1988

Illicit enrichment

(24) As regards proceeds from disturbance of fair value, it is required to list the amount of such proceeds at current period and last period according to their sources.