E.U. Directive Highlights Action Toward Addressing Unexplained Wealth and Money Laundering

        On April 15, 2024, a directive issued by the Council of the European Union set forth a new policy for member states on unexplained wealth, including conditions for freezing and confiscating assets.[1]  The directive, which cleared both legislative bodies of the E.U. and awaits final signature and formal publication in the Official Journal of the European Union, builds on a 2022 proposal by the European Commission advocating for improved systems for asset tracing, greater power to freeze assets, and an overhauled framework governing confiscation.