Call to close Tasmania's wealth law loophole

There are fears Tasmania's lack of unexplained wealth laws is making the state a soft target for criminals looking to launder their-ill gotten gains.

The ABC reports that unexplained wealth legislation allows investigators to compare a person's legal income with their assets.

If they can not explain their wealth, the state can assume it is from criminal activities and seize their assets.

Tasmania is one of the few states that does not have such legislation. Detective Inspector John Arnold says police need it to fight high-end crime.

"Unexplained wealth legislation would be an extremely good tool to run and coincide with criminal investigation," he said.

Liberal spokeswoman Vanessa Goodwin says the shortfall needs to be addressed.

"Criminals will exploit any loophole".

The Australian Crime Commission is considering holding hearings into organised crime in Tasmania.

The Attorney-General, Brian Wightman, says draft 'unexplained wealth' legislation will be finalised shortly for tabling in Parliament next year.

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