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Asset forfeiture or asset seizure is a form of confiscation of assets by the authorities. In the United States, it is a type of criminal-justice financial obligation . It typically applies to the alleged proceeds or instruments of crime.
From 2005 to 2010, government seizures of assets from both criminals as well as innocent citizens went from $1.25 billion to $2.50 billion. [15] In 2012, over $4.4 billion were seized through forfeiture [44] as compared to an estimated $4.7 billion Americans suffered as losses from criminal burglary. [45]
Confiscation (from the Latin confiscatio "to consign to the fiscus, i.e. transfer to the treasury") is a legal form of seizure by a government or other public authority. The word is also used, popularly, of spoliation under legal forms, or of any seizure of property as punishment or in enforcement of the law. [1]
Though law enforcement does not have to return property "instantaneously," Katsas wrote, the Fourth Amendment requires that any "continuing retention of seized property" be reasonable.
The U.S. Supreme Court on Thursday reinforced the power of law enforcement authorities to retain seized property belonging to people not charged with a crime, ruling in favor of Alabama officials ...
The Kansas House and Senate each passed their own versions of laws reforming civil asset forfeiture, the practice of police confiscation of property that’s allegedly involved in criminal activities.
Hennepin County, 598 U.S. 631 (2023), was a United States Supreme Court case about government seizure of property for unpaid taxes, when the value of the property seized is greater than the tax debt. A unanimous court held that the surplus value is protected by the Fifth Amendment 's Takings Clause.
United States federal law allows courts to freeze a criminal defendant's assets when that individual is accused of violating federal banking or healthcare laws. [2] However, assets may only be seized if they are "traceable to the crime" or if the property is "obtained as a result" of the crime and the defendant is either in the process of disposing or alienating those assets or the defendant ...