Financial Crime World

Vessel and Vehicle Seizure: A Growing Concern

A growing number of vessels and vehicles are being seized due to their involvement in illegal activities, posing a significant public risk. The management of these assets is often complex and costly, and when they are abandoned or left unused for an extended period, they can become a liability.

Asset Management: A Solution

To address this issue, the Inter-American Drug Abuse Control Commission (CICAD) has developed a comprehensive asset management strategy that aims to maintain the value of seized assets while ensuring public safety. This approach involves:

  • Separating duties
  • Maintaining transparency
  • Promoting efficiency in the management process

Trend: Laws on Vessel and Vehicle Seizure

Several countries have implemented laws regulating vessel and vehicle seizure, including:

  • The United States
  • Canada
  • Several European nations

These laws provide a framework for authorities to seize assets involved in illegal activities and manage them effectively.

CICAD’s Asset Recovery Program

CICAD’s asset recovery program is designed to strengthen the technical capacity of member states in investigating, identifying, locating, seizing, forfeiting, administering, and disposing of assets related to money laundering and other crimes. The program provides:

  • Training on special investigative techniques
  • Methodological investigation plans
  • Workshops for judges and prosecutors

Regional Counter-Drug Intelligence Training

CICAD also offers regional counter-drug intelligence training programs, including:

  • Regional Counter-Drug Intelligence School of the Americas in Bogota, Colombia
  • Regional Caribbean Counter-Drug Intelligence Training School in Port-of-Spain

These programs provide specialized courses for counter-drug analysts and operators on strategic, operational, and prospective intelligence.

Precursor Chemicals and Synthetic Drugs Control

CICAD provides training and technical assistance in areas such as:

  • Identification of new psychoactive substances (NPS)
  • Precursor chemical diversion control
  • Disposal of chemicals
  • Drug production methods
  • Clandestine drug labs

The organization also offers maritime border, port, and airport drug trafficking control training.

Next Steps

In the coming months, CICAD will focus on:

  • Implementing its asset recovery program
  • Strengthening regional counter-drug intelligence
  • Providing training on precursor chemicals and synthetic drugs control

CICAD will also continue to cooperate with international partners, including:

  • The International Criminal Court (ICC)
  • The United Nations Office on Drugs and Crime (UNODC)