Chris Hayes (Fowler, Australian Labor Party) Share this | Hansard source

My question is also to the Minister for Justice. As the minister would be aware, I am the chair of the Parliamentary Joint Committee on Law Enforcement. Since 2009 the committee has been very interested in the application of unexplained wealth as a technique for targeting serious and organised crime. Unexplained wealth represents a relatively new form of criminal asset confiscation where serious and organised criminals who cannot account for their wealth could be held liable to forfeit it. The value of unexplained wealth provisions lies in its ability to undermine the business model of serious and organised crime. The effect is that it removes incentive for participation and puts in doubt the profits that could be otherwise recommitted into furthering other criminal endeavour.

Minister, my committee was very encouraged in 2009 after conducting an international review of unexplained wealth and made recommendations to the government which were agreed to. The Proceeds of Crime Act of 2002 was subsequently amended. But during the bill's rather tortuous passage through the parliament it was so amended that the resulting piece of legislation providing for unexplained wealth became, in our opinion, seriously unworkable—unworkable certainly to the extent of law enforcement. With these provisions being established, which was very much at the vanguard of attacking serious and organised crime, not one prosecution has been mounted since the passage of this legislation. My committee has more recently conducted a review of the legislation, which I know you are aware of. For the purpose of these proceedings, I would like you to explain why you believe it is absolutely essential that we have national unexplained wealth laws and how you see that combating serious and organised crime.

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