Financial weapons key to beating crime and terror
SINGAPORE, October 12, 2009 (AFP) - International law enforcement officials called Monday for concerted global action to strike at the financial assets of terror groups and organised crime to cripple their operations.
Speaking at the 78th general assembly of the global police agency Interpol here, US Deputy Attorney General David Ogden urged countries to pass robust anti-money laundering legislation and make it easier to seize ill-gotten funds.
"Right now, international organised crime pays. We must change that," Ogden told delegates, including interior ministers, police officers and diplomats.
He cited one estimate showing that organised crime accounted for about 15 percent of global gross domestic product.
"Strong asset forfeiture and money laundering laws are central buttons to deprive criminals of their ill-gotten gains, to seize the instrumentalities of their trade and to use the power of asset forfeiture to destroy their illegal enterprises," he said.
"Like any modern business, these organisations need capital and exist to amass assets."
Speakers at the assembly highlighted how terror groups and organised crime syndicates use technology to successfully hide the proceeds of their illegal activities from law enforcers.
At times, criminals have also been a step ahead of the police in using technology to their advantage, they said.
Singapore Prime Minister Lee Hsien Loong told the assembly that while globalisation has brought benefits, it has also enabled crime and terror organisations to ply their deadly trade with ease.
"Using modern communications tools, criminals can freely exchange information, coordinate their operations and even share best crime practices," Lee said.
"Jihadist terrorism, drug trafficking, human trafficking and cybercrime are all global in scale and trans-national in nature."
Pakistan's Minister of Interior Rehman Malik appealed for international help to strengthen the capacity of the Pakistani police to deal with organised crime and terrorism.
"We've seen terroristic financing through drug barons. We have seen money laundering very much connected with terrorism," he told delegates.
"We need to work out a strategy to handle these crimes because they are growing in such a way that they are promoting international terrorism."


