Asset tracing and freezing : relevance and repercussions

Abstract

This thesis looks at how measures and mechanisms providing for the control of the proceeds of crime are of immeasurable value. The importance that has, for the last quarter of a century or so, been allotted to proceeds of crime in modern age crime strategy entails that measures are to be put in place for the adequate tracing and freezing of proceeds derived from criminal activity. The basis for the efforts taken to control proceeds of crime lies in the resultant confiscation thereof. The first Chapter creates the international framework against which the proceeds of crime control strategy initially developed in response to the increase in drug trafficking crimes. Influenced by the international efforts to this end, the second Chapter regards how Maltese law has likewise developed to allow for provisional measures to be taken for the tracing and freezing of assets of an accused, even prior to him being charged, with the view of identifying and freezing the aforementioned. The chapter goes on to argue how an appraisal of Maltese law, as efficient as it may be in providing for tracing and freezing mechanisms of assets, results in the identification of some loopholes or, rather, inconsistencies which may provide space for deviations in its application. The final Chapter looks at the way the European Union, too, has implemented measures for a facilitated cooperation of court orders between the member states. It has improved cooperation measures and instruments to this end. The Conclusion brings these three threads together.