Police to share £5m criminal assets

12 April 2012

More than £5 million of assets seized from criminals is to be handed to police across England and Wales.

A total of £31.8 million in criminal assets was confiscated between October and December last year.

Half is to be shared between police, prosecutors, courts and other bodies, the Home Office said.

The amount to be given to English and Welsh police forces is £5.5 million, up from £5.14 million in the same quarter in 2008.

The rest of the £15.9 million will be shared out among HM Revenue and Customs, the Serious Organised Crime Agency, the Crown Prosecution Service, the courts service and other local authorities.

Since 2003, when the Proceeds of Crime Act came into effect, £530.5 million has been seized, with over £135 million recovered in the financial year 2007-2008.

Under an incentive scheme introduced in 2006, police and recovery agencies can retain half of the cash they confiscate from criminals.

Home Office Minister Vernon Coaker said: "This scheme is a great benefit for policing. Taking money from criminals makes crime far less profitable for them.

"At the same time, that money is ploughed directly back into the police force that seized it so they can use for their fight against crime in their area.

"Recovering more than £31 million from criminals in the space of three months is a great achievement and I want to thank the police and other partners for their hard work in seizing the money and undermining criminal gangs."

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