Victoria, Australia introduces legislation to seize assets of organized crime bosses and career criminals through unexplained wealth orders.
Victoria, Australia is set to introduce legislation that aims to strip organized crime bosses and career criminals of their ill-gotten wealth. The state government plans to make it more difficult for criminals to enjoy their unexplained wealth without losing it, creating another pathway called an "unexplained wealth order." This would allow authorities to seize an asset bought in someone else's name if they suspect it is the proceeds of crime. Assets such as consumable wealth, wealth that has been gifted, disposed of or spent, and assets bought in a partner or relative's name are also captured under the reforms.
March 18, 2024
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