ARO Subgroups

ARO offices meet twice a year when possible. These plenary meetings bring together the senior officers from each EU national ARO to discuss and plan matters which are of common interest to each ARO.

 

The meetings also allow officers to exchange best practices as required under Article 6 of the Council Decision. Article 6 specifies:

 

Article 6 - Exchange of best practices

Member States shall ensure that the Asset Recovery Offices shall exchange best practices concerning ways to improve the effectiveness of Member States’ efforts in tracing and identifying proceeds from, and other property related to, crime which may become the object of a freezing, seizure or confiscation order by a competent judicial authority
 

The exchange of best practices is a core function of ARO meetings. It allows each ARO to keep up to date with changes in asset recovery trends, to make recommendations for change, and to monitor best international practices to ensure the maximum amount of assets are recovered from criminals.

Two areas were identified which required specialised sub-groups to be created, namely:

  1. The Asset Management Subgroup; and

  2. The Cryto-currencies Subgroup.

Asset Management Subgroup

This specialised subgroup considers all matters relating to the most effective means of managing seized assets relating to finanical crime.

Some of the areas considered by the Asset Management Subgroup include:

  • Institutional building arrangements

  • How to value seized assets

  • How to manage different asset typologies

  • Databases on seized assets

  • International cooperation

  • Best practices

  • Improvements than can be made.

Virtual Currencies Subgroup

The specialised subgroup considers all matters relating to the effective investigation of cryto-currencies (such as Bitcoin, Ethereum, etc).

Some of the areas considered by the Virtual Currencies Subgroup include:

  • Blockchain technology

  • Indentifying crytocurrencies

  • Seizing cryto-currenices

  • Managing crypto-currencies

  • Disposing of cryto-currencies

  • Emerging financial trends

The Virtual Currencies Subgroup has produced a leaflet to assist investigators identifying virtual currency during an investigation. This leaflet is available to download here.

EU Asset Recovery Offices

... recovering the financial gain from crime

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Designed by

Declan O'Reilly

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EU Council

Decision

2007/845/JHA