Using confiscated money

Abstract

Discusses the sharing of assets confiscated from money launderers by the nations that cooperate against the laundering practice, with special reference to Canada’s approach. Examines what the Financial Action Task Force and international conventions say on this subject. Reviews the fairly recent history of victim compensation in Canada and elsewhere, including Canada’s provisions for forfeiture in terrorism cases and for restitution using a victim fund surcharge on offenders. Suggests that an international convention should clearly direct how forfeited assets should be distributed to the victims of the crime; at present it is difficult for a country that prosecutes to ensure equitable distribution to all victims, especially if they are foreign nationals.

Citation

Murphy, D.P. (2003), "Using confiscated money", Journal of Money Laundering Control, Vol. 6 No. 4, pp. 344-354. https://doi.org/10.1108/13685200310809662