Photo of cash seized by the AFP
The AFP’s Criminal Assets Confiscation Taskforce (CACT) set an ambitious target in February 2020 to restrain $600 million worth of assets by the end of the 2024 financial year. This target has been achieved ahead of schedule in a significant blow to organised crime.
In a recent media release, the AFP provides details about the CACT and its asset confiscation and investigatory powers, and outlines some of its key achievements in stripping assets from criminals.
Who is the Criminal Assets Confiscation Taskforce (CACT)?
Established in 2011, the CACT brings together the collective resources and expertise of police officers, litigators, financial investigators, forensic accountants, and partner agency specialists across the AFP, ACIC, ATO, AUSTRAC, and the Australian Border Force.
The Commonwealth’s proceeds of crime laws allow the CACT to restrain both proceeds and instruments of crime based on a civil standard of proof, as well as obtain financial penalty and unexplained wealth orders, regardless of whether there exists a related criminal prosecution or investigation.
Significantly, the Commonwealth’s proceeds of crime laws also provide the CACT with strong information gathering and coercive examination powers, and an ability to restrain the assets of criminal groups without their prior knowledge.
What has been confiscated by the CACT, and for which crimes?
Since the target was set in February 2020, the CACT has restrained:
- $380 million in residential and commercial properties.
- $200 million in cash and bank accounts.
- $35 million in cars, boats, aircraft, cryptocurrency, artwork, and other luxury items.
Offences linked to the CACT’s seizures include money laundering, drug and firearms trafficking, cybercrime, child exploitation and human servitude, illicit tobacco, tax evasion and various types of fraud.
A recent case example
In early 2022, a 46-year-old man was sentenced to 11 years’ imprisonment for importing 144kg of cocaine into Sydney in October 2020.
In August 2022, the CACT restrained three NSW properties, 47 vehicles, and about $676,000 in gold and silver bullion, which were allegedly linked to the man.
This demonstrates how law enforcement doesn’t rest once it puts someone behind bars, seeking to ensure that they cannot benefit from illicitly gained assets once they are released.
The AFP claims that this strategy is despised by organised criminals, saying that “Some serious criminals have told AFP investigators that they could handle going to jail but were upset that their homes, cars and wealth would be gone when they were released.”
Are assets restrained internationally?
AFP National Manager Criminal Assets Confiscation Stefan Jerga said the AFP and its partners continued to target criminal wealth across borders.
“With an extensive global reach and long-standing international partnerships, the AFP is uniquely placed to bring together law enforcement efforts in this space, and has been successful in restraining more than $200 million from offshore locations since 2012,” Mr Jerga said.
Key takeaways
The AFP and its Criminal Assets Confiscation Taskforce (CACT) have demonstrated strong results in ensuring that organised criminals do not enjoy the proceeds of crime. Leveraging the Commonwealth’s proceeds of crime laws, the AFP and CACT have successfully restrained millions of dollars in criminal assets both domestically and internationally.
Nyman Gibson Miralis provides expert advice and representation in complex cases involving asset confiscation and freezing orders.
Contact us if you require assistance.
