CONFISCATION OF THE PROPERTY OF CRIME AND CORRUPTION -COMPARATIVE CHALLENGES AND EXPERIENCES

The research in this study aims to prove that confiscation of property acquired through crime is an important tool in the fight against organized crime. The basic idea of the paper is to investigate the confiscation of property acquired through crime, which is a huge criminal wealth generated mostly by various forms of misdemeanors. The analysis of the confiscation of criminal property is made based on studying and comparing the key features of the legislation in the European Union, the USA, and Australia to find out how these legislations regulate the confiscation of criminally acquired property. The methods used in the research of this paper are defined according to the purpose of the study, i.e. determining the measures that aim to reduce and prevent crime by making it known that criminals will not be allowed to enjoy their illicit wealth. Key findings and arguments show that the recovery process involves several stages: identification and tracking, freezing and confiscation, and management of frozen and confiscated assets. The data were collected, processed and analyzed to find improved solutions for confiscating criminally acquired property. In conclusion, the study proposes to take measures to confiscate criminally acquired property so that criminals cannot use it and enjoy the benefits of that property.