Money laundering - Organised crime must be tackled

Last year there were 2,688 reports to the Revenue Commissioners of possible money laundering transactions.

The total up to June of this year is already over 1,900.

A concerted effort is being undertaken to tackle money laundering on a European-wide scale. The European Commission has issued a detailed directive stipulating that business people engaged in any transaction involving over €15,000 in cash should be obligated to check the identity and legitimacy of purchasers.