Ireland ‘unable to freeze criminal assets’ due to failure to take part in international initiatives Mon, 14 Sep, 2026 – 06:06Cormac O’Keeffe
Ireland’s failure to participate in key international initiatives and conventions is making it “significantly more difficult” to freeze and confiscate criminal assets and incomes, particularly if they cross borders, according to a Government document.
The National Economic Crime and Corruption Strategy also states that Ireland “must enhance” its laws on confiscating proceeds of crime in cases involving a criminal conviction.
The document says the problem in the criminal system contrasts with the civil law process — as operated by the Criminal Assets Bureau — which it says has been successful in the “aggressive pursuit” of assets linked to organised crime. The strategy, developed by the Advisory Council against Economic Crime and Corruption, also recommends:
- Legislation updating Ireland’s ethics in public life obligations is “long overdue”;
- Ireland’s current data picture on economic crime and corruption is incomplete, making it difficult to produce accurate assessments and analyse current and emerging threats;
- Banks or regulators do not share within their sectors information on suspected criminal and fraudulent activity because there is no legal basis to do so, and for fear of breaching data protection rules;
- Economic crime and corruption cases “struggle to find sufficient priority” in the courts and dedicated court lists, sittings or a specialist court could help;
- Ireland should consider introducing ‘non-trial resolution measures’ or ‘deferred prosecution agreement’ regimes as a means of corporate compliance and administrative sanctions — and avoid lengthy and costly court trials.
Read More
Criminal Assets Bureau returned almost €15m to the exchequer last year
UAE ‘no safe haven for criminals’ following Daniel Kinahan arrest
House and cash linked to ‘one of Cork’s main suppliers of heroin’ deemed proceeds of crime
The advisory council’s report noted that, according to EU estimates, only 1-2% of estimated criminal profits are confiscated. It said that Ireland’s asset confiscation system is internationally rated to be “only of a moderate level of effectiveness”.
The report said Ireland did not participate in several key international initiatives on asset confiscation, which “could significantly” strengthen operations.
This includes Interpol’s ‘Silver Notice’ system, Europol’s Project ASSET initiative, the EU Asset Recovery and Confiscation Directive, and a Council of Europe convention.
The report said: “Ireland’s non-participation in these instruments renders it significantly more difficult to freeze, confiscate, and dispose of assets and the proceeds of crime, particularly on a cross-border and transnational basis.”
- Cormac O’Keeffe, Security Correspondent
x
185th Anniversary Offer
Six months of digital access for €18.50
Already a subscriber? Sign in
No obligation. Ts&Cs apply.
CONNECT WITH US TODAY
NEWSLETTERS
NOTIFICATIONS
Be the first to know the latest news and updates
Sinn Féin TD unaware party MP was considered as legal representative for Daniel Kinahan
MV Matthew: Drug ship sold for $1 could have been worth €3.36m
New strategy means ‘Ireland will not be a safe place to launder criminal proceeds’, says Tánaiste
More in this section
Child Law Project: Boy was sent to hospital as no suitable social care place was available
Law Society apprenticeship will allow solicitors qualify without third-level degree
Childminder says new regulations threaten to squeeze operators out of the system
#Gangland Crime#Courts