Bill to give CAB more powers to seize assets
The Government has approved the publication of a bill that will give the Criminal Assets Bureau (CAB) greater powers to seize assets linked to serious and organised crime.
The Department of Justice has described the proposals as the most significant update to Ireland’s asset-seizure laws since their introduction in 1996.
The Proceeds of Crime and Related Matters Bill 2025 strengthens CAB’s investigative powers, with new provisions to freeze a bank account when there is a reasonable suspicion that it is being used to hold proceeds of crime.
Receiver
To address the risk of funds being moved quickly or hidden, a direction can be given to a financial institution to freeze an account for up to seven days.
The bill will also ensure that when a court has decided that assets are the proceeds of crime, a receiver will be appointed to deprive those holding the assets of any benefit.
The time before the assets can be finally disposed of will be reduced from seven years to two years.
District Court order
The bill also allows the District Court to issue a restraint order for up to 90 days, with the option to renew it.
These powers can be used, according to the department, where there are reasonable grounds to suspect that the funds are linked to crime and may be dissipated. It will be a criminal offence to breach either a direction or a court order.
The bill also streamlines the disposal process, with the aim of ensuring that findings are not challenged repeatedly.
Appeals
The department adds, however, that individuals will still have the right to appeal a decision or apply to vary or revoke it during the two-year period before disposal.
“Seizing the proceeds of crime, be that money, property or vehicles from criminal individuals or organisations is central to combatting organised crime,” Minister for Justice Jim O’Callaghan said.
The draft bill was approved early last year, and the Oireachtas Committee on Justice subsequently published a report on it after completing pre-legislative scrutiny.