Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-11-13-Speech-1-051"
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"en.20001113.5.1-051"2
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"I welcome this debate. Illegal sales of narcotics and other criminal activities, such as arms smuggling, are generating billions of euros annually, most of it in cash which has to be laundered. Our task is to detect, trace, freeze, seize and confiscate the proceeds of organised crime. We are faced with criminals who will use every possible means to avoid detection. We are at war with these people. Human life is expendable in the business of illegal profits.
We need to coordinate fully our approach. Crime has no frontiers. The Proceeds of Crime Act, which my government introduced in Ireland, has been successfully utilised by our Criminal Assets Bureau to deprive those involved in criminal activities from enjoying the fruits of their crime. By the end of last year, the Bureau had obtained orders and property to the value of EUR 20 million under the Act and had made tax demands of more than EUR 40 million.
While cooperation is growing between the EU Member States and our law enforcement agencies, the scale of money laundering and fraud is so vast that we are still only tinkering with the problem. One thousand billion dollars is the estimated annual volume of capital recycled by money laundering operations involving financial arrangements. These funds could be used in our towns and for other social purposes. I welcome this debate and discussion."@en1
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