Criminal Assets Bureau returned €3.8m last year

The Criminal Assets Bureau returned over €3.8 million to the Exchequer last year, according to its annual report for 2015.

Justice Minister Frances Fitzgerald laid the Bureau’s annual report before the Oireachtas yesterday.

Speaking afterwards, Ms Fitzgerald said: “This year marks the twentieth anniversary of the establishment of the Bureau.

“In that time the Bureau has garnered significant recognition for the work that it does both nationally and internationally as part of the global effort to trace and remove from circulation the gains of criminal activity.

“During 2015, the Bureau returned in excess of €3.8 million to the Exchequer, including over €1.6m returned under Proceeds of Crime legislation, €2.038m collected under Revenue legislation and €0.185m recovered in Social Welfare overpayments.

“In addition, the Bureau brought 13 new proceeds of crime proceedings before the High Court. Taxes and interest demanded during the year was valued at over €6.6 million and social welfare savings amounted to over €483,000.

“Earlier this year, through the enactment of the Proceeds of Crime (Amendment) Act 2016, the reach of the Bureau was extended in response to the increased organised crime threat. The Act provided power to the Bureau to seize property which they suspect to be the proceeds of crime for up to 21 days.

“The other key measure in the Act reduced the threshold value of property which can be pursued by CAB from €13,000 to €5,000. This will target the proceeds of crime held by middle to lower level gang members.”

Ms Fitzgerald thanked Assistant Commissioner Eugene Corcoran for his dedicated service as Chief Bureau Officer for the past six years and wished every success to the newly appointed Chief Bureau Officer, Detective Chief Superintendent Pat Clavin.