Businesses Key To Tackling Money Laundering

Organised crime is being tackled with a major conference taking place on combating money laundering activities.

On the same day as the PSNI's incoming Chief Constable, Matt Baggott, officially took up his post, NIO Security Minister and Chair of the Organised Crime Task Force (OCTF) Paul Goggins told the audience at an anti money laundering conference in Belfast that he too 'means business'.

Emphasising partnership working between the business community and law enforcement agencies in Northern Ireland, he said both have a key role to play in the fight against those who attempt to launder the proceeds of crime.

He urged delegates to submit a Suspicious Activity Report (SAR) if they know or suspect that a person is engaged in money laundering or dealing in criminal property.

He said that a SAR is a piece of information which alerts law enforcement that certain client/customer activity is in some way suspicious and might indicate money laundering or terrorist financing.

Paul Goggins said: "Every Suspicious Activity Report has the potential to undermine the activities of terrorists and criminal gangs.

"SARS can provide new leads as well as additional intelligence on criminals who are currently under investigation," he said.

"Organised crime gangs have nothing positive to offer the people of Northern Ireland.

"Their only desire is to make money and they don't care what misery and harm they cause as they pursue that objective," he continued, noting that, by working with law enforcement agencies, the business community can "help to stamp out financial crime and make Northern Ireland a more peaceful and prosperous place".

Today's conference is the fourth such cross-sector event by the UK Financial Intelligence Unit (UKFIU), but the first co-hosted with the OCTF.

(BMcC/GK)