PRESS RELEASE BY THE MINISTRY FOR JUSTICE, CULTURE AND LOCAL GOVERNMENT Asset Recovery Bureau (Malta) secures first major pilot project with Wilsons Auctions

The Asset Recovery Bureau (Malta), as the national competent authority entrusted with the tracing and administration of proceeds of crime, has entered into a prestigious project with Wilsons Auctions, to provide technical assistance in the management, disposal and valuation services for crime related assets. Formed in 1936, Wilsons Auctions is the largest independent auction house in the United Kingdom and Ireland and its Asset Recovery Department specialises in providing asset management services for government and law enforcement agencies across the world managing a global portfolio of criminals seized assets which covers everything from crypto currencies to jewellery, luxury goods, cars, vessels and aircraft.

Representatives from Wilsons Auctions, Mr Aidan Larkin, Head of the Asset Recovery and Mr Graig Walker, Group Operations Manager, were invited to the Asset Recovery Bureau’s technical working group meeting held on 9 April 2019.

Exploiting enough knowledge in order to maximise the value of criminal related assets is a fundamental principle in asset management. This involves the valuation, preservation, remarketing and sale of assets ranging from high value assets such as jewellery, artwork, and cryptocurrency assets to low value assets, through physical and online auctions which are open to the public around the world.

This partnership between Asset Recovery Bureau (Malta) and Wilsons Auctions will ensure that all assets seized by the Bureau are dealt with the most effective way possibly, using UN best practice and ensuring the maximum revenue is generated for the people of Malta and ensuring that crime does not pay.

Source: Government of Malta