New Law To Crack Down On Foreign Criminal Assets

Law360, New York (January 4, 2011, 3:09 PM EST) -- President Barack Obama has signed into law a bipartisan bill that will purportedly make it easier for prosecutors to freeze assets held in the U.S. by foreign criminals.

The Preserving Foreign Criminal Assets for Forfeiture Act was signed by the president on Dec. 23, the last day the 111th Congress was in session. The bill, S. 4005, had unanimously passed through the Senate and the House of Representatives a week earlier.

“This legislation will make sure that foreign criminals do not avoid accountability by moving their...
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