Presentation of the 2024 Activity Report

The BGA team is proud to present its 2024 annual report.

The BGA is a government body under the authority of the Minister of Justice; it operates independently and sees itself as a service provider to the justice system. Since late 2022, it has been managing seized and confiscated assets entrusted to it by the judicial authorities.

The BGA’s new emblem symbolises the assets derived from illicit activities managed by the BGA and their conversion into resources to combat money laundering, terrorist financing and certain forms of crime.

As a separately managed state service (SEGS), the BGA has a staff of 13. Its operating budget amounts to €0.4 million and staff costs are in the region of €1 million.

In 2024, the number of ongoing cases rose from 762 (2023) to 1,653. Around one-fifth (1,189) of the assets under management were seized more than ten years ago, another fifth (1,240) were seized between five and ten years ago, and three-fifths (4,311) were seized in the last five years. As at 31 December 2024, the BGA had 6,718 assets in stock with an estimated value of over €1.420 billion, the value of which consists mainly of credit balances (45.6%) and securities accounts (38.7%).

The BGA has developed its expertise in the management of complex assets. In 2024, it disposed of 27 lots of seized assets worth €1.008 million due to the risk of depreciation or management costs that were disproportionate to their value. These assets included a lot of 58,019 cigars, the sale of which raised €485,000. The BGA also assisted in the disposal of several tonnes of seized fireworks that posed a danger to people and the environment.

It also contributed to the enforcement of 838 court orders relating to 1,481 assets worth €242.065 million. Among the confiscated assets sold were 147 collector’s watches from a lot of 150, which were auctioned in June 2024 at the Casino 2000 in Mondorf-les-Bains for €1.8 million. The proceeds from this sale were transferred to the Fund for Combating Certain Forms of Crime, whose remit is to finance the fight against, in particular, money laundering, terrorist financing and drug trafficking. The BGA also contributed to the recycling and disposal of 164 tonnes of assets that were unsuitable for sale, including 11.369 tonnes of expired medicines.

Finally, the BGA negotiated, on behalf of the Luxembourg government, nine asset-sharing agreements totalling €1.909 million, with the Netherlands (5), Belgium (3) and France (1).

In terms of the financial statement, the BGA generated €8.688 million in revenue, of which €6.124 million was transferred to the Treasury and €2.564 million to the Fund for Combating Certain Forms of Crime. Its financial statement thus far exceeds its operating budget and staff costs.

The annual report also includes judicial statistics on seizures, restitutions, confiscations and allocations. In 2024, the judicial authorities seized assets worth 300 million euros and issued rulings totalling 238 million euros. The report provides detailed figures on the nature of the assets concerned, the money laundering rate, the legal basis and the offences. These figures are broken down into seven categories of assets (credit balances, securities accounts, cash, virtual assets, immovable property, vehicles and other assets).

Finally, regarding considerations and proposals, the BGA refers to its previous report and welcomes the fact that its proposals were extensively discussed within the working group.