Financial Crime World

International Cooperation in Criminal Matters and Asset Management in Argentina

Summary of Key Points

The laws and regulations regarding international cooperation in criminal matters, asset confiscation, and asset management in Argentina provide a framework for enforcing penalties, confiscating assets, and managing seized assets.

International Cooperation in Criminal Matters

  • The Law on International Cooperation in Criminal Matters (N° 24,767) enables cooperation between Argentine authorities and foreign courts to enforce penalties consisting of fines or seizure of property.
  • A request for assistance must be submitted through diplomatic channels and meet specific conditions, such as the offense being a punishable offense under Argentine law and the sentence being final.

Asset Confiscation

  • The Law on International Cooperation in Criminal Matters (N° 24,767) allows for the confiscation of assets related to criminal offenses.
  • Assistance in the investigation and prosecution of crimes may include measures for locating and tracking assets, as well as executing embargoes or other precautionary measures aimed at freezing assets.

Asset Management

  • The administration and custody of assets seized or affected by precautionary measures in criminal proceedings is the responsibility of the judges hearing the cases.
  • Matters relating to the custody and disposal of seized assets must comply with the provisions of Law 20,785 of 11 October 1974.
  • Assets subject to civil actions for forfeiture of ownership (DNU N° 62/2019) are managed by the Agency for the Administration of State Assets (AABE).

Disposal of Seized Assets

  • The AABE is instructed to proceed with the immediate disposal of assets that enter the patrimony of National Public Sector agencies.
  • Disposal of seized assets located abroad requires adopting suitable mechanisms adapted to the modalities of the country where such disposal takes place.

Conclusion

The laws and regulations in Argentina provide a comprehensive framework for international cooperation in criminal matters, asset confiscation, and asset management. By understanding these requirements and procedures, individuals and organizations can navigate the complexities of asset management and ensure compliance with relevant laws.