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Tánaiste publishes new legislation to pursue proceeds of crime

20160630TanaisteProceeds of Crime

Tánaiste Frances Fitzgerald who this morning published the Proceeds of Crime (Amendment) Bill

Tánaiste and Justice Minister Frances Fitzgerald today published the Proceeds of Crime (Amendment) Bill. The Bill is part of the ongoing response to crack down on organised crime.

The Tánaiste said:

This new legislation that I am publishing today will give the Criminal Assets Bureau (CAB) the power to seize property which they suspect to be the proceeds of crime for up to 21 days.   

This 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.

The other key measure in the Bill is to reduce 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 henchmen. The relentless pursuit of those directing these gangs will also continue.   

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

An Garda Síochána has done some really great work in dealing with the current situation and this legislation is aimed at helping this work. They have shown absolute determination and resolve in the face of unprecedented ruthlessness from these gangs. An extra €55 million, on top of the €5 million already announced, has been made available to An Garda Síochána this year to assist in the fight against these thugs.

Link to Bill.