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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.
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The Treasury Executive Office for Asset Forfeiture (TEOAF) is an agency of the United States federal government in the United States Department of the Treasury. [1] TEOAF is responsible for administering the Treasury Forfeiture Fund (TFF). [clarification needed] The TFF was established in 1992 as the successor to what was then the Customs ...
The Ensuring Lawful Collection of Hidden Assets to Provide Order Act (), abbreviated as the EL CHAPO Act, is a United States Congress bill that would reserve any amount of money seized by the U.S. Government as a result of the criminal prosecution of Joaquín "El Chapo" Guzmán and other felony convictions involving the transportation of controlled substances into the United States for ...
The House and Senate passed separate bills on civil asset forfeiture, a controversial practice that allows law enforcement to seize property allegedly linked to criminal activity even if someone ...
Both civil and criminal forfeiture involve the taking of assets by police. In civil forfeiture, assets are seized by police based on a suspicion of wrongdoing, and without having to charge a person with specific wrongdoing, with the case being between police and the thing itself, sometimes referred to by the Latin term in rem, meaning "against ...
Fines and forfeiture of property – These are considered a form of punishment. In February 2019, the Supreme Court ruled that civil asset forfeiture may constitute excess fines and therefore be unconstitutional, even when imposed by states. [3] Costs and fees – These may include court costs, fees for supervision, payments for legal ...
Equitable sharing refers to a United States program in which the proceeds of liquidated seized assets from asset forfeiture are shared between state and federal law enforcement authorities. The Comprehensive Crime Control Act of 1984 set up the arrangement in which state and local police can share the seizures with federal agents. [1]