Ireland: Crime gangs ‘intimidating’ firms

CRIME bosses are forcing legitimate businesses and business people to launder their cash, according to the head of the Criminal Assets Bureau.

Former chief of the CAB Felix J McKenna who will be speaking at a one-day conference next Tuesday, said crime gangs can intimidate individuals to make them launder cash for them. Speaking on RTÉ radio, he said that criminals can approach a large respectable firm of accountants and intimidate an individual accountant, he said.

Another speaker at the conference will be the president of the Irish Security Industry Association, Martin Stairs. He said the conference will explore options of how businesses can protect themselves. “We will discuss the latest trends and risks. We will focus on where companies should be targeting their resources,” he said.

“Screen your own staff. Companies should also look from inside out and not just outside in. Threats from inside can include employees, delivery people, ex-employees to name a few,” he said. He also stresses that companies should assess the risk of having cash versus credit facilities on the premises. “Change modus operandi,” he said. “Find out who has keys to premises and make a list of them.” he said. “Also do research on clients and services they provide.”

The security industry in Ireland is worth €400m-€500m, according to Mr Stairs said that each company business needs to have its own security measures in place relevant to its business. The one-day conference in the Davenport hotel, Dublin, on November 28 is organised by publishers First Law.

Barrister Paul Anthony McDermot will present a talk on criminal’s protection under the law. Head of fraud investigations at Axa Insurance Willie McGee will discuss organised crime and the link to business vulnerability. Identity theft, pilferage, infiltrating retail sectors by gang members, insurance scams, credit card fraud and internet scams will also be discussed at the conference.

irishexaminer.com 21 November 2006