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Proceeds
of Crime
Ireland
has enacted comprehensive legislation dealing with the proceeds
of crime. The Criminal Justice Act 1994 introduced among other offences,
money laundering and the handling of the proceeds of drug trafficking.
It imposed upon designated bodies, such as banks and insurance companies,
the obligation to identify their customers and to keep records of
proof of their identity. The Act also provides that property used
in the commission of an offence, and lawfully seized from a convicted
person following his/her arrest, may be forfeited.
In the late 1990’s, Ireland enacted and amended existing legislation
with the aim of seeking out and seizing the profits of criminal
activity and denying the use and enjoyment of such profits - namely,
the Criminal Assets Bureau Act, 1996, the Proceeds of Crime Act
1996, the Disclosure of Certain Information for Taxation and Other
Purposes Act 1996, and amendments to the Revenue and Social Welfare
Acts.
The Criminal Assets Bureau is a multi-agency body consisting of
members of the Irish police service ( AN Gardai Siochana), officers
of the Revenue Commissioners, and of the Department of Social Community
and Family Affairs, together with a Bureau Legal Officer and an
administrative and technical staff. It is headed by a senior police
officer.
The Criminal Assets Bureau uses two main methods to deal with assets
it believes to have been gained from unlawful activity. In the first
instance, if the Bureau is satisfied that property worth at least
€12,697 is directly or indirectly the proceeds of crime, it
can apply to the High Court for an order prohibiting the disposal
of the property.
The High Court may also appoint a receiver to manage or dispose
of the property, and may ultimately make a Disposal Order directing
that all or part of the property be transferred to the Minister
for Justice, and when sold, the proceeds be paid into the Irish
exchequer. Secondly, the Bureau serves tax demands on those individuals
who it can prove to have received money or property without having
paid tax.
Since the establishment of the Bureau, criminals have begun disposing
of their properties and their investments. They have moved large
sums of cash offshore, and a number of major criminal figures have
fled the jurisdiction.
This article is intended to provide only general information and
does not purport to be comprehensive or to render legal advice.
Should you wish to receive more detailed advice on any of the matters
touched upon, please contact the author.
For further information or general enquiries contact: -
Patrick Ryan
Email: pryan@kilroys.ie
Telephone: +3531-439 5600
Fax: +3531-439 5601/439 5602
© Kilroys Solicitors 2002 - 2003
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