James Browne (Wexford, Fianna Fail) | Oireachtas source

On behalf of the Minister, Deputy Harris, I thank Senator Seery Kearney for raising this very important matter around safeguards and statutory provisions in respect of the oversight of cash-for-gold outlets. I assure the Senator that a number of key legislative provisions are in operation to militate against criminality in this regard. More generally, Irish law relating to the sale and purchase of scrap metal is a matter for the Department of the Environment, Climate and Communications and arises under waste management legislation. Waste management regulations impose an obligation on businesses to apply due diligence measures to ensure the traceability of any waste purchased, including scrap metal.

The Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, as amended, places a number of obligations on the designated persons to guard against their businesses or services being used for money laundering or terrorist financing purposes. As the Senator may be aware, the anti-money laundering compliance unit is responsible for supervising designated non-financial businesses, including cash-for-gold businesses, for compliance with their anti-money laundering and counter-financing of terrorism obligations under the 2010 Act, as amended. Compliance with relevant obligations is monitored by the anti-money laundering compliance unit through a variety of means. Monitoring includes inspections, both announced and unannounced, by regulatory investigators who have been appointed as authorised officers under the 2010 Act, as amended. In addition, the regulatory investigator may be accompanied by other authorised officers, by a member of An Garda Síochána or by such other persons as the authorised officer reasonably considers appropriate. I note these obligations apply only in respect of transactions by the person or to the person in cash of at least €10,000, whether in one transaction or a series of linked transactions. The Criminal Justice (Theft and Fraud Offences) Act 2001 provides for offences of theft that would, based on the broad nature of the offence, include scrap metal and catalytic converter theft. The 2001 Act also includes offences relating to the handling of stolen property and possession of stolen property. Maximum sentences of ten years are provided for in the case of offences of theft and handling of stolen property, while maximum sentences of five years are provided for the offence of the possession of stolen property.