EUR 636m in money laundering last year

9th June 2006, Comments 0 comments

9 June 2006, BRUSSELS — The federal unit (CFI) that combats the laundering of crime and terrorist money notified the public prosecution office last year of 686 suspicious dossiers amounting to EUR 636 million.

9 June 2006

BRUSSELS — The federal unit (CFI) that combats the laundering of crime and terrorist money notified the public prosecution office last year of 686 suspicious dossiers amounting to EUR 636 million.

In its annual report on Thursday, the CFI said 24 of the 686 dossiers (3.5 percent) involved the suspected financing of terrorist activities for a total sum of EUR 16.5 million.

The CFI said there was an increase last year in suspected money laundering linked to bankruptcies (8.4 percent compared with 5.4 percent in 2004) and misuse of company goods (7.1 percent compared with 3.5 percent).

But CFI chief Jean-Claude Delepierre refused to be drawn on making any conclusions: "Money laundering is a broad and complex phenomenon that must be analysed over the long-term".
 
Despite the fact that Belgium was praised last year for its work in combating money laundering and the financing of terrorism, very few cases end in convictions, however.

Of the 7,114 dossiers the CFI has handed over to prosecution authorities since it was established in 1993, just 837 cases have led to convictions.

However, the CFI report said a total of 1,880 people have been sentenced to a combined total of 2,819 years jail.

[Copyright Expatica News 2006]

Subject: Belgian news

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