Ireland is one of the few European Union states that has a dedicated agency with the powers to seize assets suspected of being the proceeds of crime.
The Criminal Assets Bureau was established in 1996, under the Act of the same name, to identify and seize criminal assets. The bureau has the power to confiscate assets and freeze them for seven years, enforce tax laws and investigate social welfare claims by criminals.
The bureau staff of more than 40 includes 23 Garda officers, six Revenue officials and three social welfare officials. Interim orders for more than £2.3 million worth of assets were granted last year and tax assessments for £6.2 million in tax and interest were made. More than £185,000 in social welfare payments was terminated during that year.
Other jurisdictions:
Canada: The authorities think 70 per cent of the money being laundered comes from drug-trafficking. In May 1997 they passed a law to freeze and confiscate criminal assets. Police were given new powers on drug "stings" and controlled deliveries. And, in a system similar to the organisation of CAB, 13 new Proceeds of Crime units were created to combat money-laundering and organised crime. There are proposals to set up a financial intelligence unit, to work at arm's length from law enforcement.
Holland: The Dutch courts have ruled that the authorities cannot seize criminal assets if they are in the name of a third-party legal entity. Authorities are examining the case precedent. Money-laundering has not been made a separate offence from the offence of receiving, as in Ireland.
Germany: The Germans have strong laws for the seizure and forfeiture of criminal proceeds, but very few convictions for money-laundering. Confiscation legislation provides for a wide range of measures, but the OECD Financial Action Task Force (FATF) says statistics show very little money is confiscated. The country does not have police units dedicated to seizing the proceeds of crime and tackling moneylaundering. Banks and bureaux de change have been flooded with money from eastern Europe and the former Soviet states, the source of which is unknown.
Italy: Money-laundering is an offence, and the authorities have the power to seize assets, both domestically and internationally, since 1993. Organised crime families which control drug-trafficking channel much of the proceeds into domestic financial or commercial circuits. Some organised crime organisations, especially the Cosa Nostra, have started using external consultants for more sophisticated money-laundering.
Greece: Strong laws have reversed the burden of proof in the seizure of criminal assets. Owners of the assets must prove the assets are not the proceeds of crime. However no confiscations and few seizures have taken place, according to the FATF.
