This will complete and reinforce the EU’s legal framework for the freezing and confiscation of assets. The new rules would:

• Offer one single legal instrument for the recognition of both freezing and confiscation orders in other EU countries, simplifying the current legal framework. The Regulation would apply immediately in all Member States;
• Widen the scope of the current rules on cross-border recognition, to include confiscation from other people connected to the criminal, and would cover confiscation in the case the criminal is not being convicted for example due to escape or death;
• Improve the speed and efficiency of freezing or confiscation orders thanks to a standard document and an obligation on the part of competent authorities to communicate with each other. The rules set clear deadlines, including short deadlines for freezing orders;
• Ensure that victims' rights to compensation and restitution are respected. In cases of cross-border execution of confiscation orders, the victim’s right has priority over the executing and issuing States’ interest.

Today's proposal is part of a package of measures to strengthen the EU's capacity to tackle terrorist financing and delivers on the commitments made in the Action Plan against terrorist financing. The package also contains proposals to tackle money laundering and illicit cash flows.  

The measures will make it harder for terrorists to finance their activities, whilst making it easier for the authorities to detect and stop their financial movements. Detecting suspicious financial flows and cutting off the sources of terrorist financing is one of the most effective ways to stop potential terrorist attacks.

Presented alongside the third Progress Report on the Security Union, these measures will ensure a strong and coordinated European response in the fight against terrorism financing, bringing the EU one step closer to an efficient and sustainable Security Union.

For more information

Proposal on mutual recognition of freezing and confiscation orders

Annexes to Proposal on mutual recognition of freezing and confiscation orders

Press release

MEMO

Factsheet

Action Plan against terrorist financing

European Agenda on Security