Menu
13/11/2001
Accountants warned to be vigilant for Euro laundering
John Hansen, Chairman of the Ulster Society of Chartered Accountants, has warned that criminals are likely to try and exploit the introduction of the Euro currency by ‘cleaning’ the proceeds of their activities over the next six months.
Mr Hansen said the early months of next year would see a huge increase in money transactions as the old currencies are removed to be replaced by the Euro and that if the money launderers were driven out of the traditional banking system, they would more than likely try to exploit the non-banking sector including accountants and solicitors to move their proceeds.
He added: “I do not think there is an adequate level of awareness of this issue in the marketplace yet and I would advise our members to do everything they can to ensure they avoid being used by criminals in this way.”
The Proceeds of Crime (Northern Ireland) Order, 1996 imposes obligations on everyone carrying out their trade or profession to disclose knowledge or suspicion of drug money laundering, offences of assisting or concealing and ‘tipping off’ offences. (MB)
Mr Hansen said the early months of next year would see a huge increase in money transactions as the old currencies are removed to be replaced by the Euro and that if the money launderers were driven out of the traditional banking system, they would more than likely try to exploit the non-banking sector including accountants and solicitors to move their proceeds.
He added: “I do not think there is an adequate level of awareness of this issue in the marketplace yet and I would advise our members to do everything they can to ensure they avoid being used by criminals in this way.”
The Proceeds of Crime (Northern Ireland) Order, 1996 imposes obligations on everyone carrying out their trade or profession to disclose knowledge or suspicion of drug money laundering, offences of assisting or concealing and ‘tipping off’ offences. (MB)
Related Northern Ireland News Stories
Click here for the latest headlines.
08 October 2001
Euro currency booklet launched
The Ulster Society of Chartered Accountants and the Northern Ireland Euro Preparations Forum have joined forces to issue a booklet which examines the key Euro currency issues for the local business sector.
Euro currency booklet launched
The Ulster Society of Chartered Accountants and the Northern Ireland Euro Preparations Forum have joined forces to issue a booklet which examines the key Euro currency issues for the local business sector.
27 October 2022
PSNI Seize Assets In Money Laundering Investigation
The PSNI's Organised Crime Branch has deployed an Account Freezing Order for the first, obtained under the Proceeds of Crime Act, to forfeit just under £7,000 worth of funds which they were satisfied represented the proceeds of crime in an investigation into Money Laundering offences.
PSNI Seize Assets In Money Laundering Investigation
The PSNI's Organised Crime Branch has deployed an Account Freezing Order for the first, obtained under the Proceeds of Crime Act, to forfeit just under £7,000 worth of funds which they were satisfied represented the proceeds of crime in an investigation into Money Laundering offences.
12 October 2007
Money Laundering Pair Face Charges
Two men are due to appear in Newry Magistrates Court on a number of charges connected with money laundering. On Wednesday £700,000 was seized in both sterling and euro by police as part of an investigation. A third person was released on police bail pending further police inquiries.
Money Laundering Pair Face Charges
Two men are due to appear in Newry Magistrates Court on a number of charges connected with money laundering. On Wednesday £700,000 was seized in both sterling and euro by police as part of an investigation. A third person was released on police bail pending further police inquiries.
25 April 2008
Duo Due In Court Over Fraud Offences
Two people are due in court today charged with over 100 offences relating to fraud. The pair, a 28-year-old man and a 50-year-old woman - both foreign nationals - face 124 charges relating to money laundering, counterfeit currency, fraud and theft in north and west Belfast.
Duo Due In Court Over Fraud Offences
Two people are due in court today charged with over 100 offences relating to fraud. The pair, a 28-year-old man and a 50-year-old woman - both foreign nationals - face 124 charges relating to money laundering, counterfeit currency, fraud and theft in north and west Belfast.
04 April 2023
Two Arrested In Connection With £300,000 Drug Seizure
Suspected cocaine and cannabis, with an estimated value of £300,000, has been seized in a PSNI operation in the Carnlough and west Belfast areas. Two people, a 41-year-old man and 36-year-old woman, were arrested in connection with the seizure, on suspicion of drug and money laundering offences .
Two Arrested In Connection With £300,000 Drug Seizure
Suspected cocaine and cannabis, with an estimated value of £300,000, has been seized in a PSNI operation in the Carnlough and west Belfast areas. Two people, a 41-year-old man and 36-year-old woman, were arrested in connection with the seizure, on suspicion of drug and money laundering offences .
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
