(Home Office) £5.5m seized from criminals gives new year cash boost to Police

Police forces across England and Wales are to receive a £5.5 million cash boost from assets seized from criminals, the Home Office announced today.

Criminal assets confiscated by police forces and other asset recovery agencies between October and December 2008 totalled £31.8 million, half of which is to be shared between police, prosecutors, courts and other agencies.

A total of £5.5 million will be given to police forces in England and Wales, compared with £5.14 million paid out in the same quarter last year.

Since the Proceeds of Crime Act came into effect in 2003, £530.5 million has been seized. An incentive scheme introduced in 2006 allows the police and recovery agencies to retain half of all cash they seize 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 £31million 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."