Maldives bill to confiscate crime proceeds opened for public comment

Public consultation has been opened on the government-sponsored bill to confiscate assets obtained through crime, currently before the People's Majlis Judiciary Committee. The bill, submitted by Ali Fazad, MP for Fuvahmulah Medhu constituency, seeks to establish a legal framework for the state to seize property derived from serious crimes, strip offenders of their financial benefits and block avenues for further profit. During a committee meeting held today, the Judiciary Committee invited comments on the bill until 14:00 on 30 November, via email to the committee or in writing to the Majlis administration. Under the bill, assets used in or obtained from crimes — including money laundering, terrorism-related offences, murder, trafficking in drugs, people and arms, sexual exploitation, counterfeiting, corruption and organised crime — could be confiscated. Confiscation would also apply to tax evasion involving amounts above MVR 500,000 and offences such as theft, embezzlement and smuggling involving amounts above MVR 100,000. The measure would apply to crimes committed abroad and before the law takes effect, and assets could be seized regardless of whether the offender is convicted, in line with guidelines from the Prosecutor General. Within 30 days of the law coming into force, the President would establish an Asset Management Authority under the Finance Ministry to safeguard, value and dispose of confiscated assets and handle victim compensation. Within 60 days, a Recovered Asset Fund would be set up to cover crime prevention and compensation costs. The bill also empowers the Prosecutor General to seek assistance from other countries in recovering assets.