Financial Crime World

Portuguese Asset Forfeiture Laws: A Key Tool in Combating Organized Crime and Money Laundering

Portugal’s asset forfeiture laws have been clarified, enabling authorities to seize proceeds, objects, or instrumentalities of criminal offenses as part of their efforts to combat organized crime and money laundering.

Clarification of Asset Forfeiture Laws

According to Article 28 of the Portuguese Code of Criminal Procedure, property or money can only be handed over if they are not required for evidence in connection with a criminal offense under Portugal’s jurisdiction. The handing over may be delayed or conditional upon return, and any rights of bona fide third parties or legitimate owners must be preserved.

  • Article 28 ensures that assets are seized in accordance with the law and respects the rights of innocent parties.
  • Property or money can only be handed over if they are not required as evidence in a criminal investigation.

Limitations on Enforcement of Foreign Criminal Judgments

Article 98 outlines the limits to enforcement of foreign criminal judgments, stating that the enforcement shall be limited to confiscation of proceeds, objects, or instrumentalities of the offense. This provision aims to prevent the misuse of foreign court judgments and ensure that only assets directly related to criminal activity are seized.

  • Article 98 prevents the misuse of foreign court judgments by limiting enforcement to assets directly related to criminal activity.
  • Only assets derived from criminal activity can be seized under this provision.

Implementation of Rome Statute

Portugal’s Rome Statute implementation law has also clarified procedures for enforcing fines and forfeiture measures ordered by the International Criminal Court (ICC). Under Article 109, states parties, including Portugal, are required to give effect to ICC orders without prejudice to the rights of bona fide third parties. If a state is unable to enforce an order, it must take measures to recover the value of the proceeds or assets ordered to be forfeited.

  • Article 109 ensures that Portugal complies with ICC orders and respects the rights of innocent parties.
  • If Portugal is unable to enforce an order, it must take measures to recover the value of the seized assets.

International Cooperation and Enforcement

Portugal’s authorities are working closely with law enforcement agencies and financial institutions to identify and seize assets derived from criminal activity, and to return them to their rightful owners or use them for public benefit. The country’s asset forfeiture laws have been praised by international experts as a key tool in the fight against organized crime and corruption.

  • Portugal’s authorities are committed to strengthening international cooperation and enforcement efforts.
  • Asset forfeiture powers have led to several high-profile seizures of ill-gotten gains, including a recent case involving €1 million in cash and assets linked to a major drug trafficking operation.

Overall, Portugal’s asset forfeiture laws have been clarified to provide a robust framework for combating organized crime and money laundering. The country’s authorities are committed to continuing to strengthen their asset forfeiture powers and international cooperation to protect the financial system and ensure that criminal proceeds are not used to fund further illegal activity.