Written answers

Tuesday, 12 April 2005

Department of Justice, Equality and Law Reform

Money Laundering

9:00 pm

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
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Question 782: To ask the Minister for Justice, Equality and Law Reform if his attention has been drawn to the suggestion that the proceeds of bank or other robberies, extortion, racketeering, protection and drug dealing are being used to acquire property here and overseas; and if he will make a statement on the matter. [11230/05]

Photo of Michael McDowellMichael McDowell (Dublin South East, Progressive Democrats)
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The purchase of properties by persons engaged in criminal conduct is a recognised money laundering technique. While Garda money laundering investigations have shown that the proceeds of serious crime have been used to acquire properties both in Ireland and other jurisdictions, I would add that the criminal law in this jurisdiction does not make it easy for criminals to launder money or invest the proceeds of crime in the legitimate property market. In this regard, I would refer the Deputy to my comprehensive reply to Parliamentary Question Nos. 8, 294, 295, 296, 297, 298 and 299 tabled for answer on 8 July, 2004.

The efforts of specialist Garda units, such as the Criminal Assets Bureau and the Garda Bureau of Fraud Investigation, have been at the forefront of the drive to tackle the issue of money laundering and the Garda Síochána will continue to focus on this problem in its operational activities.

In addition, amendments earlier this year to the Proceeds of Crime Act 1996, the Criminal Assets Bureau Act 1996 and the Criminal Justice Act 1994 are designed to further ensure that the Garda, the Criminal Assets Bureau and the Director of Public Prosecutions have all the tools available to them to investigate and seize property acquired from the proceeds of criminality, including foreign criminality.

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