Oireachtas approve new Criminal Assets Bureau powers to seize assets

A bill to provide Criminal Assets Bureau (CAB) officers with the power to seize and detain property suspected to be the proceeds of crime has been approved by the Oireachtas.

The Proceeds of Crime (Amendment) Bill was yesterday passed by the Dáil, following its recent passage by the Seanad.

The measure was announced by Justice Minister Frances Fitzgerald in a bid to tackle organised crime.

The bill provides CAB officers with the power to seize property which they suspect to be the proceeds of crime and detain it for 24 hours.

The Chief Bureau Officer will be empowered to authorise its detention for a further 21 days, during which CAB can prepare an application to the High Court for an interim restraining order and prevent the disposal or dissipation of the property in the meantime.

The bill also reduces the threshold value of property which can be pursued by CAB under the Proceeds of Crime Act 1996 from €13,000 to €5,000.

Speaking as the Bill was passed, Ms Fitzgerald said: “We are giving the Criminal Assets Bureau the powers they need to move quickly to seize the proceeds of crime, and to target the middle value assets that were beyond their reach up to now.”

She added: “The Government will do everything in its power to tackle crime effectively. We are investing resources and new powers in the Garda Síochána while supporting local communities most affected by crime.”