NCJ Number
143455
Journal
Asset Forfeiture Bulletin Dated: JUNE 1993
Date Published
1993
Length
15 pages
Annotation
This bulletin discusses new approaches for reaching assets for forfeiture in foreign countries and the use of financial transaction reports for leads in money laundering cases.
Abstract
The first article profiles three ways to seek forfeiture of foreign assets. The most effective method is through Mutual Legal Assistance Treaties (MLAT's), which are bilateral treaties that establish cooperative assistance between countries in criminal enforcement matters. In response to MLAT requests, many foreign countries may freeze and forfeit not only the assets directly related to the crime but also substitute assets of equal value owned by the respondent or suspect. If a State knows that a suspect's or respondent's assets are in a foreign country with whom the United States has not signed an MLAT, there are two other methods by which assets may be frozen and forfeited: letters rogatory and Vienna Convention requests. Each of these methods is described. Another article describes the data collected by Arizona under State law that requires businesses to submit financial transaction reports, as well as how such data are used to develop leads in money laundering cases. Case summaries from 17 States describe the circumstances of asset forfeiture.