Written answers

Tuesday, 10 December 2013

Department of Justice and Equality

Money Laundering

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
Link to this: Individually | In context | Oireachtas source

93. To ask the Minister for Justice and Equality the extent to which criminal gangland activity such as illegal drug trafficking relies on money laundering to continue in business; the ongoing efforts to curtail such activity; and if he will make a statement on the matter. [52633/13]

Photo of Alan ShatterAlan Shatter (Dublin South, Fine Gael)
Link to this: Individually | In context | Oireachtas source

As the Deputy will be aware, money laundering is a method by which criminals seek to disguise the illegal origins of their wealth and protect their asset bases, so as to avoid the suspicion of law enforcement agencies and to prevent leaving a trail of incriminating evidence. While money laundering is an offence of itself, it would of course be reasonable to consider it closely associated with organised crime which generate significant financial gain. Addressing organised crime in all of its guises remains a key ongoing priority for both the Government and An Garda Síochána and these priorities are clearly reflected in the Garda Policing Plan for 2013.

In this regard, An Garda Síochána continues to develop and implement operations and strategies aimed at targeting, dismantling and disrupting criminal networks by utilising advanced analytical and intelligence methodologies. In addition, multidisciplinary approaches are used to ensure the activities of individuals and groups involved in criminal enterprise are effectively targeted including through the use of the proceeds of crime legislation, money laundering legislation and the powers of the Criminal Assets Bureau.

Specifically with regard to money laundering, the Deputy may wish to note that the Criminal Justice (Money Laundering and Terrorist Financing) Act, 2010 represents a radical overhaul of the anti-money laundering system in establishing a new framework of anti-money laundering regulation for credit and financial institutions and other "designated persons" in line with the 3rd EU Money Laundering Directive and the standards of the Financial Action Task Force (FATF). In addition, the Criminal Justice Act 2013 made further amendments to that Act in order to align certain provisions more closely with international standards. Furthermore, in February 2012, the FATF further revised its standards with the aim of strengthening and protecting the systems in place to deal with money laundering and terrorist financing and proposals for a 4th EU Money Laundering Directive are currently being negotiated which will take into account the revised FATF recommendations.

In concluding, I can fully assure the Deputy that An Garda Síochána will continue to vigorously pursue all persons involved in organised criminal activity including money laundering.

Comments

No comments

Log in or join to post a public comment.