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Money Laundering.

Dáil Éireann Debate, Wednesday - 3 November 2004

Wednesday, 3 November 2004

Questions (88)

Bernard J. Durkan

Question:

137 Mr. Durkan asked the Minister for Justice, Equality and Law Reform the number of criminal gangs believed to have invested in various properties throughout the country in the past five years; if the legislation is adequate to combat such money laundering activities; the action taken on discovery; and if he will make a statement on the matter. [27213/04]

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Written answers

The Deputy will appreciate that it would not be possible for the Garda Síochána to quantify, at any particular time, the number of criminal gangs believed to have invested in properties or the number of properties in the hands of criminal gangs.

However, I am satisfied 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. On the contrary, a broad range of strong legislation is available to the Garda Síochána to enable serious and organised crime to be confronted effectively. In this regard, I would refer the Deputy to my detailed reply to Questions Nos. 8 and 294 to 299, inclusive, tabled for answer on 8 July last.

The Criminal Assets Bureau continues to exercise its statutory remit to target assets, including property, derived from organised crime. The powers of the Criminal Assets Bureau will be further bolstered with additional measures in the Proceeds of Crime (Amendment) Bill, now before the Seanad. The Bill will make certain technical amendments to the Proceeds of Crime Act 1996 and, in particular, will remove any doubt there may be over when a person may be said to be in possession or control of property for the purposes of that Act.

Implementation of EU money laundering directives has severely limited the scope of criminal gangs to launder proceeds of crime and a third such directive is being negotiated. Following its agreement, my Department, in consultation with the Office of the Attorney General, will examine what, if any, national legislation is required to give it effect. Ireland's law and procedures on money laundering were the subject of a favourable review in 1998 by the financial action task force under that body's procedure for the mutual evaluation of its members. The next mutual evaluation of Ireland is due in 2005.

Question No. 138 answered with QuestionNo. 80.
Question No. 139 answered with QuestionNo. 119.
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