Police seize $48 million in crime assets

Cash and assets worth around $48 million have been seized under new legislation enabling Police to confiscate the proceeds of crime, Police Minister Judith Collins said today.

The Criminal Proceeds (Recovery) Act, which took effect in December 2009, enables Police to seized assets believed to be the proceeds of crime without first securing a criminal conviction.

“I am very pleased to report that the Police have been highly successful in investigating and seizing assets funded by criminal activity since this Government passed the legislation," Ms Collins said.

“Gangs are criminal businesses, motivated by profit. We have untied the hands of Police to go after their ill-gotten gains.

“Police are currently holding restraining orders over $40 million worth of assets and a further $8 million has now been forfeited to the Crown. 

“This Government is serious about confiscating the profits of crime and putting gangs out of business.  I am advised that this Act is having a substantial and rising impact on organised crime and drug offending."

The assets restrained under the Act include boats, motorbikes, luxury cars, four-wheel-drive vehicles, cash, bank accounts, lifestyle blocks and a large number of residential properties (see panel).

Police have now struck MOUs with other government agencies to enable the disclosure and sharing of information, so that the legislation can be used to the maximum extent. 

These include the Solicitor-General, the Official Assignee and Inland Revenue.