EU to set up authority to tackle money laundering outfits like Kinahan cartel

It comes amid calls to sanction the UAE if the Arab state does not extradite the Kinahans who reside there.

The Kinahan gang is now added to a list of top criminal threats to US national security, joining the Italian mafia and ultra-violent Mexican cartels.

Mairead McGuinness says a new EU authority will help tackle money laundering in light of new sanctions against the Kinahan crime cartel.

A US government reward of up to $5m each for the arrest of cartel founder Christopher Kinahan, boss Daniel Kinahan, and brother Christopher Jr or for information that will disrupt cartel activities was announced this week.

Mairead McGuinness, the EU Commissioner for financial services, said the “development is hugely welcome” amid calls to sanction the UAE if the Arab state does not extradite the Kinahans who reside there.

“It fits in with our work on anti-money laundering. So we have a proposal with the European Parliament to go much further than we have to date.

“We're going to establish an authority at an EU level to address issues of money laundering because it is happening and 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 and families that is represented by the Kinahan gang.

“What’s very interesting now, including our discussion around sanctions broadly, there is a political push which I am supportive of from 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, so a European and indeed a global response is necessary.” Ms McGuinness said Europe and Ireland must work together to root out the worst effects of crime and to root out the “terrible impacts” on families.

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.” The Kinahan gang is now added to a list of top criminal threats to US national security, joining the Italian mafia and ultra-violent Mexican cartels.

A European arrest warrant has been issued, for murder, for the most senior cartel leader to date, McGovern, described in US documents as Daniel Kinahan’s “adviser and close confidant” through which all dealings with Kinahan must go.

Seventy-nine members and associates of the KOCG have been locked up in Ireland, including 12 for murder and 22 for attempted murder.