The argument is a fairly obvious extension of the rationalization for in rem asset forfeiture, to “take the profit out of crime.” It’s a great slogan, given that crime is bad and profit is its motive. When the money seized was the cash in a traveler’s pocket, seized not because there was any particular basis to believe that a crime was committed or that money snatched was either derived from or used in crime, but just cash that cops could grab, however, the slogan rang hollow.
But that was cash, and there was more money to be had. And much like drug dealers might carry suitcases filled with cash, bad dudes might use banks to hold, launder and pay for bad purposes. Something must be done, activists cried. And so something was done. Continue reading
