Criminal Assets Bureau 2023 Annual Report published.

• A record year for CAB in its goal of denying and depriving criminals of the proceeds of crime
• Almost €10m seized from criminals

The Criminal Assets Bureau’s (CAB) Annual Report for 2023, has been published, showing a record year for CAB in its goal of denying and depriving criminals of the proceeds of committed crime.

In 2023, the value of assets under proceeds of crime cases commenced by CAB ranged in value from €10,915 to €1,456,887. Proceeds of crime actions, together with actions carried out under Revenue and Social Protection provisions, yielded in excess of €8.6 million to the Irish Exchequer in 2023.

Using the ill-gotten gains collected by CAB, the Department of Justice established the Community Safety Fund. This fund has been developed to reinvest the value of proceeds of crime, seized by CAB, directly back into local communities, which are negatively affected by crime.

€3.75 million in funding is available for local initiatives under this year’s Community Safety fund with applications closed since late July. Officials within the Department of Justice are currently processing current applications and the recipients will be announced in the coming weeks.

It is intended to support the expansion of CAB by 45% over the next 2 years, as part of the plan to tackle organised crime. The CAB Strategic Plan 2024-2027 will expand CAB’s intelligence gathering and enforcement activities.

In addition, new legislation is being brought forward in the coming weeks to strengthen CAB, with the Proceeds of Crime (Amendment) Bill 2023, seen as improving CAB’s ability to carry out its work.

Measures include:

• The reduction from seven years to two years in the time between an order being made that assets are the proceeds of crime and a final disposal order being available in respect of those assets.
• Provision for immediate and automatic appointment of a receiver to deprive respondents of the benefit of the assets.
• The limitation of respondent’s ability to reopen the question of whether assets are proceeds of crime at the point of a disposal order being sought.
• Enhanced restraint and asset detention powers prior to the High Court process.
• Improved domestic and international information exchange powers.

Eradicating organised crime is central to building safer, stronger communities and expanding CAB is seen as key to this goal.