The annual report of the Criminal Assets Bureau (CAB), released today, shows a threefold increase in taxes collected on profits from criminal activity compared to the previous year.
According to the report the CAB collected taxes and interest to the tune of €23m. It also took interim orders worth almost €3m and ‘final’ restraint orders worth over €2m as well as social welfare savings amounting to almost €193,000.
Since the CAB was introduced in 1996 it has demanded €56m and collected €36m in taxes and interests, with a saving to the Social Welfare of over €1.2m.
The Minister for Justice, Mr Michael McDowell presenting the report to the Dail today said: "The Bureau will continue to prevent those involved in the drugs trade, and other forms of serious crime, from enjoying the proceeds of their illegal activity".
Under the Proceeds of Crime Act 1996, the Bureau can obtain an interim order from the High Court to prohibit dealing with property, worth more than €13,000, which can be shown to be the proceeds of crime. The Bureau then has 21 days to obtain a final restraint from the High Court to freeze the property for seven years.
