EU Council Adopts Initiative on Execution of Orders Freezing Assets or Evidence

On March 7, 2001, the Council of the European Union adopted a framework decision, whereby members of the European Union will be obligated to give judicial assistance in mutually recognizing orders freezing assets or evidence. The Framework Decision applies to all freezing orders, relating to facts which, under the law of the issuing State, constitute one of the following crimes: illicit trafficking in narcotic drugs; fraud affecting the EC’s financial interests; laundering of the proceeds of crime; counterfeiting of the euro; corruption; and trafficking in human beings…[more]