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A NEW EU group could be set up to crack down on “dirty money” in light of new sanctions on the Kinahan drug cartel, European Commissioner Mairead McGuinness has said.
The US government this week imposed sanctions on the three most senior members of the Kinahan organised crime group and offered a reward of up to $5 million each for any information leading to their arrest or financial disruption of the gang.
McGuinness told reporters at the Global Ireland Summit in Dublin Castle today that there is now a proposal with the European Parliament and Council to “go much further than we’ve done” in establishing an authority at EU level to address issues of money laundering.
“We need to tackle it, not just for the money part, which is horrific, that we have dirty money in the system, but the attack on communities, on people, on families’ which are impacted by the Kinahan gang, she said.
She said there is a “political push” for the European Parliament to go further.
“So we may well see that this authority has more responsibility around sanctions, because dirty money doesn’t respect borders. A European and indeed a global response is necessary,” she said.
She added that the European Commission is not discussing sanctions against the UAE.
“I presume those who are involved in law enforcement will look at that and see where there is circumvention,” she said.
McGuinness said she was struck listening to the radio yesterday where women spoke about “their hopes for their children which were dashed because they’ve gotten involved in drugs and they couldn’t pull themselves away from it”.
“Really, when you think of those horrors, and the dirty money behind it, there should be no hiding,” she said.
Minister of State for European Affairs Thomas Byrne, who was also in attendance at the Global Ireland Summit today, that a “strong” message has been sent to Dubai following the coordinated response between the US, Ireland and the EU.
He said Foreign Affairs Minister Simon Coveney has ongoing discussions with his counterparts in Dubai and the UAE when it comes to international cooperation surrounding international crime.
This has now “reached the highest levels internationally” in terms of the consequences it will have on people working with the Kinahan gang.
At this point, people “really need to think twice”, he said.
“This is a very dangerous setup. And there’s huge risks… People see boxing careers ahead of them. There are other ways to get a boxing career,” he added.
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The sooner these bottom feeders are brought to justice the better.
Just seems like a no brainer that if you want to tackle crime at a high level you just target the proceeds of crime. I can’t fart without the taxman knowing and yet these lads can build empires by laundering money … less detectives and more accountants should sort it out.
@Pablo: What’s the going rate of tax for a fart these days? I could be in trouble
I suspect that more people are driven into poverty and maintained there by loopholes to protect the wealthy than are affected by the targets of this.
Yes, the drug culture and those who profit from it and the crime generated by their greed needs to be sorted but the consumers in a lot of cases are so called respectable members of society who don’t seem to see the link between recreational use of white powder and murder on the streets – usually on streets that are seldom visited by such people.
Drug dealing is a crime against society but so is creating loopholes to allow wealthy people to avoid their proper contribution to society from which they get a lot more benefit.
I opened a credit union account for my daughter a couple of months ago, the length of the form to fill out was unbelievable. My daughter said she never signed her signature as many times. Yet these people are able to acquire money from crime and very few questions asked.
have your say