Cab’s financial return to State dips by more than €2m, annual report shows

The Criminal Assets Bureau (Cab) saw its financial return to the Irish state dip by over €2 million last year, bringing in just over €14.9 million compared to €17 million in the prior year. The bureau's annual report, which Minister for Justice Jim O’Callaghan will present to the Cabinet, details its activities in seizing and selling assets linked to criminal activity.

Last year, Cab successfully sold 18 forfeited properties, generating €4.4 million. The bureau also conducted 37 search operations, surpassing its target of 35. Revenue generated from activities associated with the Revenue Commissioners amounted to nearly €10.8 million, with an additional €655,543 coming from social protection-linked activities.

Despite these successes, Cab did not meet all its performance targets, achieving 10 out of 15 set for the year. The report attributes this to a focus on "more complex and lengthier investigations." For instance, the bureau fell short of its goal to submit 25 proceeds of crime files, explaining that the 23 files submitted were often more substantial and complex, leading to year-to-year fluctuations in submission numbers.

Cab froze 137 assets valued at €10.2 million, a decrease from €12.6 million in the previous year. Real estate constituted the largest portion of frozen assets at nearly €7.7 million, an increase from €1.4 million in 2024. However, the value of frozen financial assets dropped significantly to just over €1.9 million from nearly €10.9 million in 2024. The bureau stated that asset values fluctuate annually and depend on specific cases.

Minister O’Callaghan commended Cab's efforts, calling the return to the exchequer "hugely significant." He emphasized the connection between financial disruption and weakening organized crime, stating, "Organised crime is driven by money and the harder we can make it to obtain, launder and keep the money, the weaker these organised crime groups become."

“

Organised crime is driven by money and the harder we can make it to obtain, launder and keep the money, the weaker these organised crime groups become.