Purpose of the Proceeds of Crime Laws are to:
Remove financial gain from criminal activity; Serve as a deterrent to committing crimes; and Help trace property acquired through illegal activity. What Are Proceeds of Crime?
Proceeds of crime are anything of value attached to criminal activity. Proceeds of crime can include, but are not limited to: Real estate; Motor vehicles; Currency including shares & cryptocurrency; Jewellery; Personal property; Royalties from books or movies that include the illegal activity you are accused of; Any revenue generated because of the suspect or convicted party’s criminal activity (speaking fees, some consulting charges, etc.) The Impact of Proceeds of Crime Orders. There are various forms of orders that can be sought by the authorities pursuing a proceeds of crime application. The options are: Freezing bank accounts; Property seizure; Confiscation of real estate (including selling the real estate); Closure of any related commercial enterprises. For that reason if you are in a circumstance where your assets are at risk it’s critical to get legal advice promptly to try and minimise the damage that such an order might do.
