Criminals Hit Hard In Their Wallets

Major crime looks like having been dealt a significant blow with news that the amount of criminal assets seized during the first half of this financial year already exceeds the total amount recovered during the whole of 2006/07.

The NIO's Paul Goggins, who chairs the Organised Crime Task Force said that over £10 million has either been seized or frozen by partners in the Organised Crime Task Force since April.

Speaking to delegates at a special seminar for members of the Chartered Institute of Management Accountants (CIMA), he said: “The OCTF is committed to the fight against organised crime in Northern Ireland and we will continue to take that fight directly to the criminals involved.

“The assets we have seized from those who flout the law will be ploughed back into the fight against organised crime.”

Between April and the end of September orders obtained by OCTF partners to seize assets exceed £2.6 million and in addition, over £7.6 million of assets have been put beyond the reach of individuals through the courts.

These figures reflect Assets Recovery Agency disruptions of £4.3 million and completions of over £2.1 million. PSNI and HMRC seizures amount to £568,000 in cash.

Seeking enhanced co-operation with the financial professionals, he also used the event to remind the delegates that money laundering regulations require that all suspicious transactions must be reported to the authorities and Paul Goggins urged CIMA members to play their part in tackling organised crime.

He said: “As professional accountants working across many business sectors CIMA members can help break the chain of criminal finance that harms everyone and attempts to undermine our economy.

“The honest business community has nothing to fear and benefits hugely when criminals engaging in illegal financial practice are caught. Your continued vigilance in playing your part can help re-inforce the clear message that there is no hiding place for assets obtained through unlawful activity.”

(BMcC)