Money laundering cases rise 30%

THERE was a 30% increase in the number of suspected money laundering transactions last year, according to new statistics.

Official figures show that the number of such transactions reported to the gardaí rose from 4,254 in 2003 to 5,491 in 2004.

Justice Minister Michael McDowell made the figures available to the Dáil in response to a question from Fine Gael TD Bernard Durkan. Mr McDowell said the number of suspicious transaction reports (STRs) received at the Money Laundering Investigation Unit of the Garda Bureau of Fraud Investigation (GBFI) “continues to increase.”