17 Jul Confiscation of Unexplained Wealth: A Wolf in Sheep’s Clothing?
In their article for Chambers Expert Focus / Compliance and Investigations, July 2024, Ilias Anagnostopoulos and Alexandros Tsagkalidis provide insights into the newly adopted EU Directive 2024/1260 on asset recovery and confiscation, focusing on the introduction of confiscation of unexplained wealth. They raise concerns that this new form of confiscation, while initially intended for extraordinary circumstances, may follow the trend of other confiscation measures and expand in scope, potentially becoming an invasive tool against assets without sufficient proof of origin.
