Director of Public Prosecution Geoffrey Henderson said yesterday that organised crime in this country is being supported by many legitimate businesses...
News Source: Trinidad Guardian
He said because of this, legitimate and criminal interests have become ?so entangled that large segments of society depend upon the perpetuation of criminal activity for their livelihood.?
The DPP made the statement in his opening address to participants at a five-day workshop on money laundering.
The seminar, titled Caribbean Anti-Money Laundering Programme Training Seminar for Prosecutors, is being held at Hilton Trinidad.
It is being hosted by the Caribbean Anti-Money Laundering Programme and the Caribbean Financial Action Task Force.
Several Caribbean DPPs, prosecutors and attorneys attached to State departments are attending.
Henderson said money laundering not only poses a risk to national security but also undermines economic stability.
He said there was also evidence to show that drug trafficking generates profit, so that organised crime now supports legitimate businesses.
The DPP said the high profit from criminal activity provides organisations with ?tremendous competitive advantage, enabling them to outbid and even stifle legitimate business ventures.?
He said although eight Magistrates? Courts and six High Courts sit daily in Port-of-Spain, only one money confiscation was made in the last two years.
Henderson said illicit drugs perpetuate a cycle of poverty, unequal distribution of wealth, violence, disease and the proliferation of firearms.
He said while the drug trade was the root cause of other crimes like murder, kidnapping and robbery, it also leaves room for the expansion of money laundering.
