Menu4/17/18: “In 2017, the Department of Justice (“DOJ”) reported more than $8.2 billion held in its forfeited-assets fund …” write Joseph A. Valenti, Stefanie M. Lacy and Reymond E. Yammine of law firm K & L Gates in a recent article published by the firm. That’s a tidy sum but the risks to companies don’t stop with financial impacts. “A company does not have to be involved in money laundering for civil asset forfeiture to apply; any asset tainted by criminal activity may be subject to forfeiture,” say the writers. Fortunately, they go on to explain the civil forfeiture laws, the risks and the defenses a company might take to civil asset forfeiture. The article is reasonably long and dense but it’s worth reading given the topic and level of risk to companies.
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