Criminal Assets Bureau seized substantial Louth property

A substantial property in Louth was among the assets seized last year as part of a successful crackdown on organised crime, according to the 2024 annual report from the Criminal Assets Bureau (CAB).

The Bureau highlighted a number of high-profile cases during the year, including the targeting of a leader of a transnational drug trafficking network.

Under the Proceeds of Crime Act, CAB obtained orders to seize a detached residential property in Louth, more than €100,000 in funds, and proceeds from the sale of a vehicle.

The report notes that these cases reflect the wide-ranging nature of CAB’s work, both in terms of the types of assets recovered and the geographic spread of operations across Ireland.

In total, CAB denied and deprived criminals of assets worth €17.05 million last year.

The Bureau said the proceeds of crime actions, together with tax and social protection recoveries, “yielded in excess of €17.052 million to the Exchequer in 2024.”

Publishing the Annual Report, Justice Minister Jim O’Callaghan said:

 “I commend the Criminal Assets Bureau for another successful year, as is outlined in its 2024 Annual Report. Returning over €17m to the exchequer is a significant achievement.

"The positive role of the Criminal Assets Bureau in tackling crime cannot be overstated. We know that depriving criminals of the proceeds of criminal activity is an effective tool in building safer communities. 

"I also want to recognise the range of agencies and bodies who work with the Bureau. An Garda Síochána is a vital partner, as are the Office of the Revenue Commissioners and the Department of Social Protection. The Bureau also continued its engagement with the Cross Border Joint Agency Task Force and with the Police Service of Northern Ireland. Cooperation is crucial in constraining the operations of those who intend on doing harm, to our communities”

Last week, Minister O’Callaghan announced the allocation of over €4 million to Community Safety projects across the country. This fund redistributes the proceeds of crime back into local communities. 42 projects will be funded through the Community Safety Fund, which is almost double the number of projects supported through the first allocation from this fund in 2022.

Minister O’Callaghan continued:

“The Criminal Assets Bureau’s excellent work allows us to help communities which have been harmed by criminality.

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"I want to see more funds being redirected from the hands of criminals into communities where that money can do good. That is why I am progressing legislation which will strengthen the State’s ability to identify, freeze, and confiscate assets linked to serious and organised crime.

"The Proceeds of Crime Bill is making its way through the Oireachtas currently. Once passed into law, the Criminal Assets Bureau will have stronger investigative powers and will be able to dispose of assets much more quickly than is currently the case. I am committed to ensuring that the Criminal Assets Bureau have the powers and resources to continue their important work.”