Dáil Éireann díospóireacht -
Wednesday, 30 Jan 2002

Vol. 547 No. 1

Written Answers. - Euro Changeover.

John Dennehy

Ceist:

914 Mr. Dennehy asked the Minister for Justice, Equality and Law Reform if his attention has been drawn to media reports that in advance of the withdrawal of the punt on 9 February 2002, criminals are attempting to launder the proceeds of crime by providing individuals with Irish currency on condition that they are repaid in euro; if he has satisfied himself that the penalties for illegal moneylending are sufficient; and if he will make a statement on the matter. [1111/02]

Minister for Justice, Equality and Law Reform (Mr. O'Donoghue)

The Garda authorities have informed me that they are aware of the suggestion that criminal elements may endeavour to launder money in the manner outlined by the Deputy. The Garda Síochána is closely monitoring the situation with a view to establishing any breaches of section 31 of the Criminal Justice Act 1994.

Persons engaging in moneylending who do not hold the necessary licence granted by the Director of Consumer Affairs are committing an offence under Part VIII of the Consumer Credit Act 1995. The Act provides that offences for con travening Part VIII may be prosecuted by the Garda Síochána. Section 13 of the Act details the penalties for breaches of the Act, including breaches of Part VIII. I am informed by the Garda authorities that they have no evidence to suggest that the penalties for illegal money lending are insufficient.