Control of the proceeds of crime

(d) New investigative techniques

1. If proceeds are received by the assignee, the assignee is entitled to retain those proceeds to the extent that the assignee's right in the assigned receivable had priority over the right of a competing claimant in the assigned receivable.

2. If proceeds are received by the assignor, the right of the assignee in those proceeds has priority over the right of a competing claimant in those proceeds to the same extent as the assignee's right had priority over the right in the assigned receivable of that claimant if

Money laundering and control of the proceeds of crime

Yield

As to the definition of proceeds , language was suggested along the following lines Proceeds includes whatever is received upon the collection or disposition of the receivables or of the proceeds. With regard to the issue of the transfer of rights in proceeds, it was suggested that paragraph (3) should be replaced by wording along the following lines An assignment of receivables also assigns the assignor s rights to their proceeds .

They said you are only interested in quick returns

The decision tools that are most relevant for climate change adaptation are cost effectiveness analysis, multi criteria analysis, risk benefit analysis and cost benefit analysis.

(a) The assignor has received the proceeds under instructions from the assignee to hold the proceeds for the benefit of the assignee and

Family earnings

Total Profits

It was explained that, in those legal systems, the assignee lacked title in the proceeds it only had a claim against the assignor, and would not have the right to trace the proceeds.

The audit report also raised concerns about high duties, amounting to 37 per cent of sector revenue compared with a recommended level of 30 per cent.

Net gain on exchange

The legislation of most of the States replying to the questionnaire (89 per cent) provided for the freezing, seizure and confiscation of the proceeds from drug trafficking offences and for the freezing, seizure and confiscation of proceeds derived from other serious crimes (71 per cent).

The budgets do not indicate actual revenues received, which have generally turned out to be far less.

quot (9) Priority with regard to the receivables includes priority with regard to cash received upon collection or other disposition of the receivables, provided that the cash may be identified as proceeds of the receivables. quot

In addition, the 1988 Convention requires parties to enact legislation that allows them to confiscate the proceeds and instrumentalities of drug trafficking offences and to cooperate with one another in the identification, seizing, freezing and confiscation of such proceeds and instrumentalities.

(i) An interest in that real property to the extent that under that law the assignment of a receivable confers such an interest or

(a) The proceeds of serious offences, or assets of a value equivalent to that of such proceeds

Special rules on proceeds

Proceeds derived from the offence

(ii) Control of the proceeds of crime

In the case of assignment of proceeds, as contrasted with transfer, the right to demand payment remains with the original beneficiary, the assignee being given only the right to receive the proceeds of payment, if such payment occurs.

(i) Identification, freezing, seizure and confiscation of the proceeds of crime

Misperceptions about associated costs and benefits can cause a project to fail.

Chapter VI Income Distribution

Security rights in proceeds

Another concern was that paragraph (9) might be read as conferring priority in proceeds independently of priority in the receivables.

Statistical data on investigations, prosecutions and convictions related to money laundering and on proceeds seized or confiscated as a result of legal action, 1998 2000, 2000 2002 and 2002 2004

Following the conviction of a bank teller for laundering the proceeds of drug trafficking, the police issued a statement that the conviction was conveying the message that laundering proceeds of crime will not be tolerated.25

Gains arising from the revaluation of non euro cash and bank amounts are treated as realized

Low and middle income families will benefit from a notable increase in disposable income.

In order to address those concerns, it was generally agreed that paragraph (9) should provide a definition of proceeds , while the issue of the transfer of rights in proceeds could be dealt with in draft article 11 and the issue of priority in proceeds could be dealt with in draft articles 23 and 24.

This income is expected to remain around 6 per cent of net proceeds.

However, there may sometimes be intangible benefits which are important for making a business case and those could be more difficult to measure e.g., carbon sequestration.

quot 7. If there are surplus proceeds of a local non main proceeding, they shall be transferred to the main proceeding. quot

(iv) The proceeds from the sale of surplus property

Desiring also to ensure adequate protection of the interests of debtors in assignments of receivables,

(33) As regards investment yield, it is required to make disclosure of investment yield in current year and that in last year by securities category (like government securities and funds, etc.).

(a) Proceeds derived from offences covered by this Convention or property the value of which corresponds to that of such proceeds

(a) If payment in respect of the assigned receivable is made to the assignee, the assignee is entitled to retain the proceeds and goods returned in respect of the assigned receivable

(iii) Deferred income includes pledged contributions for future periods, advance sales realized under revenue producing activities and other income received but not yet earned

With a view to supporting the prompt return of illicitly acquired assets, the Proceeds of Crime Act of 2002 provided a scheme to trace, restrain and confiscate the proceeds of crime.