Jim O'Callaghan

The Proceedings of Crime and Related Matters Bill 2025 approved by ministers yesterday will make the most significant changes to proceeds of crime legislation since 1996.

It will strengthen the investigative powers of the Criminal Assets Bureau (CAB), with new provisions to freeze bank accounts when there is a reasonable suspicion that it is being used to hold proceeds of crime.

To address the risk of funds being moved quickly or hidden, a direction can be given to a financial institution to freeze an account for up to seven days.

The bill will also ensure that when a court has decided that assets are the proceeds of crime, a receiver will be appointed to deprive those holding the assets to benefit.

The time before the assets can be finally disposed of will be reduced from seven years to two years.

The disposal process will also be streamlined to ensure that findings are not challenged repeatedly, though the government says procedural protections will remain in place and individuals will still have the right to appeal a decision or apply to vary or revoke it during the two-year period before disposal.

Another provision of the bill will allow the District Court to issue a restraint order for up to 90 days, with the optional for renewal, which can be used where there are reasonable grounds to suspect that funds are linked to crime and may be dissipated. It will be a criminal offence to breach either a direction or a court order.

Justice minister Jim O’Callaghan said: “Seizing the proceeds of crime, be that money, property or vehicles from criminal individuals or organisations is central to combatting organised crime.

“Organised crime is driven by money and the harder the State makes it to obtain, launder and keep the money, the weaker these organised groups are.”

He added: “The Proceeds of Crime Acts allow for re-investing the proceeds of crime back into communities to support projects that build safer and more secure communities.”

“The Community Safety Fund, now in its fourth year, ensures money seized from criminal networks is reinvested to enhance public safety, wellbeing and opportunity in localities.”