Vol. 495 No. 4
23 Mr. Rabbitte asked the Minister for Justice, Equality and Law Reform the plans, if any, he has to provide additional powers to the Garda or take measures to ensure compliance by banks in view of the recent comments of persons (details supplied); and if he will make a statement on the matter. [20125/98]
The comments referred to by the Deputy relate to the obligation on banks, other credit institutions and other bodies designated under the money laundering provisions of the Criminal Justice Act, 1994, to report to the Garda Síochána where they suspect that a money laundering offence has been or is being committed.
Detailed advice on compliance with the obligations of the 1994 Act are available to credit institutions and other designated bodies, in the form of guidance notes which have been issued with the approval of a Government money laundering steering committee. Arising out of the concerns to which the question refers, this committee is currently conducting a review of the guidance notes in order to ensure a full and consistent understanding of the obligation under the 1994 Act to report suspicions of money laundering.
In relation to the comments made by the head of the Garda bureau of fraud investigation, GBFI, I wish to inform the Deputy that in overall terms the Garda Síochána is satisfied with the level of co-operation it receives from the financial institutions in relation to the reporting of suspicious transactions under the terms of the Criminal Justice Act, 1994.
The instances referred to by the head of the GBFI have been raised at the money laundering steering committee and, arising from the review of the guidance notes which I have already mentioned, the firm aim is that revised procedures will be put in place to ensure that these problems will not arise again.
As previously announced, I am committed to extending the provisions of the Criminal Justice Act, 1994, to include solicitors, accountants, auctioneers and estate agents and, in addition, I am currently reviewing the relevant legislation to see if any additional changes are required.
