NSW Police will target the hidden wealth of senior underworld figures with the establishment of a new task force aimed at seizing assets that fund "terrible" gang-related crimes across the state.
The Criminal Assets Confiscation Team - comprised of forensic accountants, intelligence analysts and lawyers - will work with specialist detectives to identify senior members of criminal networks suspected to have profited from organised crime.
The team will have broad new powers to "freeze assets and confiscate the proceeds".
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Under the state's new legislation that recently passed in parliament, the onus now lies on the individual to "prove to the court that their wealth was gained through legitimate means".
This, in addition to almost $6 million in funding, aims to "prevent, disrupt, and reduce serious and organised crime" across NSW.
"We said we'd make every resource available to tackle organised crime on our streets, today's announcement does just that," Minister for Police and Counter-terrorism Yasmin Catley said.
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"Senior members of organised crime gangs are on notice.
"The NSW Police Force and NSW Crime Commission will hunt you down, they will seize your assets and use that money to come after more of you.
"These crime bosses are highly skilled at hiding their wealth and many never face a court. Today's announcement means we'll confiscate their criminally acquired wealth anyway."
NSW Crime Commissioner Michael Barnes said crime bosses will have nowhere to turn once their assets are frozen.
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"With this new funding and the support of our law enforcement colleagues, we will seize the wealth that funds the terrible crimes we have been seeing in Sydney over the last two years," Barnes said.
"The crime bosses don't do the dirty work – they hide in their mansions and spend huge amounts buying stolen cars and illegal firearms and paying others to fire the bullets.
"Without access to their illicit drug-derived wealth, they will not be able to fund these atrocities."
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