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Barbados Showcases Effective Mechanisms for Confiscation and Recovery of Illicit Funds

Barbados has demonstrated its commitment to combating financial crimes by showcasing effective mechanisms for confiscation and recovery of illicit funds. The country’s Proceeds of Crime (Civil Confiscation) Act (PIOCA) provides a robust framework for the permanent deprivation of funds or other assets obtained as a result of or in connection with criminal offenses, including terrorism financing.

Confiscation and Recovery Mechanisms

The PIOCA allows for the confiscation of the benefit of an offence, the forfeiture of the instrumentality of the offence, and the forfeiture of any property obtained as a result of the commission of the offence. This includes the recovery of property used or intended to be used for unlawful conduct.

Civil Proceedings for Recovery

Part III of the PIOCA enables civil proceedings for the recovery of property used or intended to be used for unlawful conduct. Section 82 allows the Barbados’ Recovery Authority to apply to the Court for a “recovery order” for the recovery of property, which would result in the property being vested in a recovery trustee.

Process for Making a Recovery Order

Section 92 outlines the process through which the Court may make a recovery order. Section 93 requires the recovery trustee to secure the detention, custody or preservation of the property vested in him.

Concept of “Recoverable Property”

The concept of “recoverable property” is construed in Section 73 as property obtained through unlawful conduct, including tainted gifts and proceeds of crime.

Recovery of Cash in Summary Proceedings

Division 3 of the PIOCA also provides for the recovery of cash in Summary Proceedings, giving law enforcement agencies the ability to recover cash deemed to be recoverable property or intended to be used by any person in unlawful conduct.

Financing of Terrorism

The financing of terrorism, terrorist acts and organisations is included in both Parts III and Division 3, as it has been deemed a criminal offence in Barbados.

Confiscation of Property of Corresponding Value

Section 13(2) of the PIOCA can be interpreted as including the confiscation of property of a corresponding value to that which was the proceeds of criminal conduct or unlawful conduct. This interpretation arises from Section 15, which enables the Court to make an order for the confiscation of any benefit obtained by the defendant as a result of, or in connection with, the commission of the offence.

Conclusion

In conclusion, Barbados has effectively demonstrated its commitment to combating financial crimes and ensuring the permanent deprivation of funds or other assets obtained as a result of or in connection with criminal offenses.