18th Parliamentary Intelligence-Security Forum – Extinction of Domain to Combat Transnational Crime

This panel was focused on the issue of seizing illicit funds, or extinction of domain, in order to debilitate transnational crime. There are many laws in place that focus on extinction of domain and the goal here is to make criminal groups weaker by seizing their source of income. Luis Petri (Deputy of Nation, Argentina) expressed that in 2016, there was an impulse of action to deal with the issue of extinction of domain. He later expressed that illicit wealth finances illicit activity.

There were many doubts and questions on how the dominion of crypto assets is still not very well established and reform is necessary to deal with that issue. It was later asked if extinction of dominion only applied to narcotraffickers. The answer that was given was that any activity that is thought or known to produce illicit funds, extinction of dominion is applied with the objective to weaken and hopefully remove the “muscle” that makes illicit activity possible.