rgb(145,47,70)
rgb(209,125,45)
rgb(26, 111, 136)
rgb(0,151,117)

Legislation

Australia has effective laws for asset recovery, including non-conviction based confiscation powers and unexplained wealth orders. We will continue to review our legislative framework to ensure its continued effectiveness.

Country: Australia

Status: ongoing

Themes: Asset recovery

Last updated: December 2020

Classification:

Concrete: Somewhat Concrete | New: Not New | Ambitious: Not Ambitious

  • 8 Evidence:

    Man convicted as part of foreign bribery investigation

    NSW Court orders $600K forfeiture following backyard cash splash

    Australian drug syndicate boss and high-ranking member sentenced in Melbourne

    Organised crime syndicate charged and more than 500kg of cocaine seized in PNG

    Two alleged international money launderers arrested in Sydney

    $1.6million in assets restrained in connection to alleged Malaysian official bribery investigation

    19-year tax fraud probe ends in jail time for scheme promoter

    Statutory review of AML/CTF Act 2016

  • 4 Notes:

    •The multi-agency Criminal Assets Confiscation Taskforce (CACT), is committed to depriving organised crime of the proceeds and benefits derived from their crimes and offending. In the financial year 2019-20, the CACT restrained in excess of AUD$250 million (gross restraint) in criminal assets in Australia and overseas, linked to crimes including: money laundering, illicit drugs, illicit tobacco, identity crime, Corporations Act offences, tax evasion, and fraud.

    •The Australian Federal Police (AFP) works with partner agencies, domestically and internationally, to disrupt transnational organised crime activities, and prosecute organised criminals wherever they are located.

    •Australia’s proceeds of crime laws allow for the restraint and confiscation of both the proceeds and instruments of crime, as well as pecuniary penalty orders and unexplained wealth orders irrespective of whether a conviction has been secured.

    •By targeting the criminal economy and confiscating criminal assets, organised crime networks and their activities can be disrupted and dismantled, and the criminal economy thwarted – preventing them inflicting harm on the community.

    •In his recent address to the Press Club (attached), AFP Commissioner, Reece Kershaw APM highlighted the good work of the CACT and revealed that he had given the CACT a performance target of restraining AUD$600 million over the next 5 years (2019-2024), and indicated this target may be increased to AUD$1 billion.

    Peer reviewer: 1

    Updated: October 31, 2020

    The last update was recorded in 2016 so this commitment is inactive. Additionally, some commitments have also stalled while the Australian Government focuses on the aftermath of bushfires, floods and drought as well as the looming threat of COVID-19.

    Updated: April 30, 2020

    No updates

    Updated: October 30, 2019

Australia's Commitments
View Methodology Download Data