Panama: Bill on Forfeiture of Assets

A draft bill proposes that the state seize goods from money laundering and other illicit activities.

Monday, November 25, 2013

"The suggestion has been raised to create a law that relates to forfeitures, because there is so much income and assets being generated, but we do not know what to do with those assets" said Ana Belfon, from the Attorney General's Office.

"Between April 2012 and June 2013 alone, the Statistics Center of Public Prosecutions recorded $1.3 million apprehended by the prosecutor specializing in organized crime," noted an article in Capital.com.pa.

The draft includes 60 articles that address topics such as the definition of forfeiture and its retroactivity, "which does not include a deadline, the rights of the affected and the creation of a fund of seized assests (FABEDO) which would be administered by the Ministry of Economy and Finance. "



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