New money laundering unit for DPP’s office

AN ECONOMIC Crimes Unit (ECU) is to be established in the office of the Director of Public Prosecutions (DPP) to include investigation into money laundering and the financing of terrorism.

This was revealed yesterday by DPP Geoffrey Henderson at an Anti-Money Laundering Seminar at the Crowne Plaza Hotel. Henderson said the DPP’s department had been more focussed on other matters such as murder, rape and kidnapping. “There must be a heightened profile now in the department,” Henderson declared. Henderson said he submitted a recommendation only last week for the establishment of the ECU. This unit’s responsibility will not only include the prosecution of major fraud and corruption cases, but will concentrate on the prosecution of money laundering and the financing of terrorism.

The DPP said such units exist in other countries who pursue money laundering offences. The unit will include persons from the Financial Investigations Unit, prosecutors and attorneys who will work closely with investigators to ensure prosecutions are effected. Henderson is hopeful that the ECU will get off the ground during the next financial year. He also stated that the Proceeds of Crime Act 2000 has not been effectively used as a tool to eradicate money laundering.  “To date, we have had just one money laundering prosecution. We have had matters of money being confiscated, but in terms of the actual prosecution, we have had just one. And, even that matter was still borne at the stage of committal proceedings. We have not used the legislation effectively as a tool to eradicate such offences.