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CAB success in seizing criminal assets sets the example for EU

Frances Fitzgerald


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Fight against crime: A masked policeman during an anti-money laundering operation against Russian mafia in Mallorca. PHOTO: DANI CARDONA/REUTERS

Fight against crime: A masked policeman during an anti-money laundering operation against Russian mafia in Mallorca. PHOTO: DANI CARDONA/REUTERS

Fight against crime: A masked policeman during an anti-money laundering operation against Russian mafia in Mallorca. PHOTO: DANI CARDONA/REUTERS

Profits of organised crime groups are estimated at €110bn per year in the EU. However, as reported by Europol, only about 1pc of these profits are confiscated.

So we are leaving 99pc of the profits at the disposal of crime bosses in Europe. This means criminal organisations have the wealth to infiltrate the legal economy.

This week, the European Parliament adopted a resolution on anti-money laundering which calls for the Commission to do more to facilitate more effective cross-border recovery of criminal assets.


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