More than €17.052 million was returned to the Exchequer as a result of CAB’s work in 2024, according to its latest annual report.

Over the course of the year, CAB officials conducted 46 search operations, consisting of 227 individual searches in 13 counties.

Some 21 new cases commenced under the Proceeds of Crime Act during 2024, while 30 new proceeds of crime files were submitted to the criminal asset section of the Chief State Solicitor’s Office (CSSO) for progression through the courts.

CAB also held its second publicly-advertised online auction in 2024, which received global interest and realised in excess of €216,000.

Justice, home affairs and migration 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 €17 million 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.”

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

“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.”