You Are Here » OCTF Home » Events » Suspicious Activity Report launch

---

 

Events

Suspicious Activity Report launch

Date: 07/09/2006

Tough new measures to help tackle organised crime have been introduced in Northern Ireland.

Chair of the Organised Crime Task Force (OCTF), Paul Goggins MP described the new Suspicious Activity Reports (SAR) regime as a vital tool in stopping, deterring, frustrating and apprehending those who attempt to profit from crime.

SARs must be submitted by banks, estate agents, accountants, lawyers and businesses when they suspect money laundering or terrorist financing have been or may be taking place.

Paul Goggins said: "Organised crime is big business inNorthern Ireland. It costs all of us a huge amount not only in terms of undermining legitimate business, but in the harm that it can cause to the environment, to our health and to our children.

"We all must work together to tackle the threat organised criminals pose to our society and removing their profits is essential. The new SAR regime is an important tool in helping us to do this by minimising the opportunities to launder the proceeds of crime."

In July 2005, the Chancellor and the then Home Secretary asked Sir Stephen Lander, chair of the Serious Organised Crime Agency, to review the SARs regime.

That work is now completed and Sir Stephen joined Paul Goggins and members of OCTF partner agencies at a breakfast event in Belfast this morning attended by some 150 individuals representing a wide cross section of businesses, financial institutions and the professions in Northern Ireland to explain the new regime.

Speaking at the event Sir Stephen said: "Organised crime is first and foremost concerned with making illicit profits. Estimates of the scale of those profits internationally vary, but recent calculations suggest that over £5bn of criminal proceeds are laundered in or from the UKannually. Our SARs regime, operating effectively, has a vital part to play in identifying those proceeds and providing opportunities for law enforcement to interdict them."

Other speakers at the event were Stephen Prenter CBI and Assistant Chief Constable Peter Sheridan, PSNI.

Event gallery

 

Privacy | Disclaimer | © Crown Copyright 2008