Proceeds of crime

The Proceeds of Crime Act 2002

The Proceeds of Crime Act 2002 (the Act) was passed on 11 October 2002 and came into operation on 1 January 2003.

The Act provides a scheme to trace, restrain and confiscate the proceeds of crime against Commonwealth law. In some circumstances, it can also be used to confiscate the proceeds of crime against foreign law or the proceeds of crime against State law (if those proceeds have been used in a way that contravenes Commonwealth law).

The Act also provides a scheme that allows confiscated funds to be returned to the Australian community in an effort to prevent and reduce the harmful effects of crime in Australia.

The AFP-led Criminal Assets Confiscation Taskforce (CACT) has responsibility for investigating and litigating proceeds of crime matters under the Act. Targeting the criminal economy by confiscating criminal assets and removing the profit from crime is a central strategy deployed by the AFP and its partners to deliver maximum impact to the criminal environment.

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