THE Government has backed new legislation to strengthen the Criminal Assets Bureau’s ability to identify, freeze and confiscate assets linked to organised crime.
The move has been hailed as the most substantial reform to Ireland’s civil asset forfeiture laws since their inception in 1996.
One of its key parts is the reduction of the disposal time frame for assets deemed to be the proceeds of crime, from seven years to two.
The legislation also gives CAB extra investigative powers, including the freezing of bank accounts when there is reasonable suspicion that they hold dirty cash.
Financial institutions can be directed to freeze accounts for up to seven days to stop the money being quickly moved or hidden.
And the District Court will be able to issue restraint orders for up to 90 days, and the option to renew it, to prevent the dissipation of suspected criminal assets.
Breaching these directions or court orders will constitute a criminal offence.
Justice Minister Jim O’Callaghan said: “Seizing the proceeds of crime, be that money, property or vehicles from criminal individuals or organisations is central to combating organised crime.
“Organised crime is driven by money and the harder the State makes it to obtain, launder and keep the money, the weaker these organised groups are.”
The Bill also introduces measures to ensure the quick appointment of receivers for assets determined by the courts to be proceeds of crime.
This will prevent those being targeted from continuing to benefit from the property or cash during the disposal process.
Another aspect of the reform is the streamlining of processes.
DELAYS REDUCTION
Once a court has determined that assets are proceeds of crime, this finding cannot be repeatedly challenged, significantly reducing delays.
Minister O’Callaghan noted that these improvements will not only bolster the fight against organised crime but also benefit communities.
He added: “The Proceeds of Crime Acts allow for reinvesting the proceeds of crime back into communities to support projects that build safer and more secure environments.
‘ENHANCE SAFETY’
“The Community Safety Fund, now in its fourth year, ensures money seized from criminal networks is reinvested to enhance public safety, wellbeing and opportunity in localities.”
The Proceeds of Crime and Related Matters Bill 2025 will now go before the Dail after Cabinet approval.
Since its establishment in 1996 following the murder of brave crime journalist Veronica Guerin, CAB has recovered over €219.8 million for the State, including €8.65 million in 2023 alone.
In recent years, Hutch associate James ‘Mago’ Gately and Kinahan lieutenant Liam Byrne have been successfully stripped of their assets by the bureau.
