Fitzgerald publishes proposals to toughen proceeds of crime laws

Justice Minister Frances Fitzgerald has published draft legislation designed to toughen proceeds of crime laws in Ireland.

The Proceeds of Crime (Amendment) Bill would add new provisions to the Proceeds of Crime Act 1996 providing for the administrative seizure and detention of property by the Criminal Assets Bureau (CAB) for up to 21 days.

Once implemented, a Bureau Officer would have the power to seize and detain property for 24 hours on the basis of having reasonable grounds for suspecting it to be the proceeds of crime, while the Chief Bureau Officer (CBO) can authorise its further detention for 21 days.

Ms Fitzgerald said the 21-day period “will allow CAB to prepare an application to the High Court for an interim restraining order and prevent the disposal or dissipation of the property in the meantime”.

However, the CBO’s decision to authorise further detention can be challenged by an affected person in the High Court.

The bill provides for an application for compensation for losses incurred by the owner of the property if CAB fails to apply for or obtain an interim order from the Court.

It also reduces the threshold value of property subject to the Proceeds of Crime Act from €13,000 to €5,000, which Ms Fitzgerald said would “target the proceeds of crime held by middle to lower level henchmen”.

She has already announced her intention to reduce the prescribed sum under which cash suspected of being the proceeds of crime under section 38 of the Criminal Justice Act 1994 may be seized from €6,500 to €1,000 by way of a regulation.