Reinvest proceeds from confiscated criminal assets in communities -Costello

8 October 2014

by Cllr Joe Costello

 

Following today’s publication of the Criminal Assets Bureau’s Annual Report, Joe Costello TD has called for the proceeds of criminal assets to be reinvested into communities most affected by crime.  

 “CAB’s Annual Report shows that almost €7 million in assets were recovered by the Criminal Assets Bureau in 2013.  I believe that part of the proceeds of confiscated criminal assets should be redirected to communities devastated by organised crime.

“From when it was established in October 1996 up to December 31^st 2013, CAB has demanded taxes and interest of more than €239 million, with over €144 million collected; made social welfare savings of over €7 million, and recoveries of almost €3 million; and obtained freezing order of nearly €72 million.

“Rather than this money going back into CAB, I would like to see it reinvested in crime-stricken communities in areas such as youth support and regeneration.

"The experience of some EU Member States, most notably Italy, shows that the social re-use of seized assets can help empower local communities and create employment in areas worst affected by organised crime. Under a 1996 Italian law, for example, properties confiscated from organised crime remain in the hands of public authorities but can be assigned to specific social projects. These include projects administered by civil society and not-for-profit organisations, such as rehabilitation centres, support centres for the victims of human trafficking and even farming."