Key Takeaways:
- Largest-Ever Global Crackdown on Criminal Assets: Europol hosted over 80 financial experts from 28+ countries in a joint effort to trace, freeze, and seize illicit wealth.
- Billions in Criminal Assets Targeted: Authorities identified 53 properties, 220+ bank accounts, 15 companies, and over 80 cryptocurrency wallets linked to organized crime.
- 200,000 Euros in Crypto Seized: Europol specialists worked with law enforcement and financial experts to freeze illicit digital assets.
- New International Taskforce Established: Project A.S.S.E.T. aims to increase worldwide asset seizures, tackling financial crime with unprecedented collaboration.
- New EU Directive to Strengthen Asset Recovery: The 2024 Directive on Asset Recovery and Confiscation will give law enforcement new powers to seize criminal wealth.
In a move against financial crime, Europol has launched Project A.S.S.E.T. (Asset Search & Seize Enforcement Taskforce) according to a press release, bringing together over 80 financial experts from 43 law enforcement agencies across 28 countries to track and confiscate illicit assets worldwide. This marks the largest international initiative of its kind, setting a new precedent for global cooperation in tackling money laundering and organized crime.
Massive Seizure of Criminal Wealth
During the operation, which took place from January 13-17, 2025, authorities identified and targeted billions in criminally acquired assets, including:
- 53 properties, eight of which have a combined value of €38.5 million.
- Over 220 bank accounts, including one account holding $5.6 million.
- 15 shell companies suspected of facilitating money laundering.
- Luxury vehicles and yachts, four of which were valued at more than €600,000.
- 83 cryptocurrency addresses and wallets, with €200,000 in crypto assets already frozen.
According to Burkhard Mühl, Head of the European Financial and Economic Crime Centre (EFECC), Europol’s latest operation is a game-changer in the fight against organized crime:
“Bringing together over 80 top experts from law enforcement and the private sector, we worked as one to trace, freeze, and seize the profits of organised crime. Together, we’re striking criminals where it hurts most – their wallets.”
Fighting Financial Crime at Its Core
Law enforcement agencies worldwide have long struggled to seize assets linked to criminal enterprises, with estimates indicating that less than 2% of the proceeds from organized crime are recovered each year. The remaining 98% fuels further illicit activities, including drug trafficking, fraud, human smuggling, and cybercrime.
Europol’s findings highlight how criminal organizations exploit real estate to launder illicit funds, with 41% of major criminal networks in the EU using property transactions to clean their money.
Even though Project A.S.S.E.T. is a new initiative, law enforcement is already seeing results. Recent multi-country operations like Whitewall and Gorgon have successfully dismantled underground banking networks and seized €27 million in cryptocurrency alone.
The Role of the Private Sector and New EU Powers
A key element of Project A.S.S.E.T. is the cooperation between law enforcement and financial institutions, including banks and cryptocurrency exchanges. By working closely with these partners, Europol aims to enhance financial intelligence-sharing and accelerate asset seizures.
Additionally, the 2024 Directive on Asset Recovery and Confiscation is set to significantly boost law enforcement’s ability to freeze and recover illicit wealth. Under this directive:
- Asset Recovery Offices across the EU will have stronger legal authority to freeze criminal assets.
- Law enforcement agencies will be able to issue immediate orders to seize property linked to financial crimes.
- Financial institutions will be required to strengthen their due diligence processes to prevent money laundering.
A United Front Against Organized Crime
Europol’s Project A.S.S.E.T. represents a major step forward in the international fight against financial crime, money laundering, and organized crime networks. By pooling resources and intelligence across borders, law enforcement agencies are sending a strong message—criminals can no longer hide their illicit wealth.
With new legal frameworks, enhanced intelligence-sharing, and stronger cooperation between public and private sectors, Europol is setting the stage for more aggressive financial crackdowns in the future.
