Council of Europe opens strengthened asset recovery treaty for signature, eight countries and European Union become first signatories

The Council of Europe has opened an Additional Protocol to the Warsaw Convention for signature, with Georgia, Greece, Hungary, Luxembourg, Monaco, Montenegro, San Marino, the United Kingdom and the European Union becoming the first signatories. Adopted by the Committee of Ministers on May 15, 2026, the protocol modernizes cross-border confiscation and recovery of criminal proceeds, including crypto-assets, and allows property linked to wider criminal conduct or held by third parties to be targeted, subject to protections for good-faith holders. In some cases, confiscation will be possible without a criminal conviction. The protocol enables urgent freezing or seizure without prior notice and requires states to establish offices for tracing and managing criminal assets. It also strengthens financial intelligence units’ access to financial and virtual-asset data and expands international cooperation through information sharing, joint investigations and direct links between asset recovery and management offices. Authorities must meet set response deadlines, including three days for urgent requests. Confiscated assets will be returned as a priority to victims or legitimate owners. Sums above EUR 10,000 will generally be divided equally between the countries involved, while states are encouraged to direct recovered assets toward social or public purposes. The protocol will enter into force after five ratifications, including three by Council of Europe member states.