International Cooperation in Combating Money Laundering
The UK National Crime Squad's (NCS) Detective Superintendent Mr Terry Hapgood recently paid a visit to the Narcotics Bureau's office to present Commander's Commendations to three officers of the Financial Investigation Division. The officers were commended for outstanding detective work and exemplary contributions to Operation 'Diorite', the biggest-ever money laundering investigation undertaken by the NCS, which resulted in more than 20 arrests in the UK in June 2003.
The operation focused on an organised crime network based in the West Midlands, which had been involved in the laundering of at least 10 million pounds in 'dirty money' via Hong Kong and other countries. The financial investigators of Hong Kong Police (HKP) joined the operation in mid-2002 and, since then, had actively assisted in analysing and developing financial intelligence, tracing the fund flows and searching key addresses in the territory. Their untiring efforts had led to valuable clues and evidence to assist the operation and the ensuing prosecution in the UK.
"I am here to say thank you for an unprecedented level of co-operation with the NCS. The level of support and co-operation given to it was among the best of any foreign agencies to date, and proved to be absolutely crucial in the success of what had been a long and extremely complex operation against global crime," said Mr Hapgood at the start of the presentation ceremony.
He then made some observations on what he saw as the way forward in combating transnational crimes: "It is clear that one of the most effective tools that we have to combat serious and organised crime is the ability to seize the cash and other assets obtained by illegal means. To enable policing the world over to fulfill this role, it is essential that we work together using common policing powers to fight criminals who do not recognise international boundaries. The NCS and HKP play an important role in this fight using agreed protocols and arrangements, trusting one another and making good contacts as integral to this process."
Chief Superintendent Mr Kenny Ip noted that this case once again demonstrated the importance of international cooperation in combating money laundering and was clear evidence that the HKP is committed to working in partnership with international law enforcement agencies to combat money laundering activities in both Hong Kong and abroad.
The Hong Kong officers employed on the UK's biggest-ever money laundering investigation: Senior Inspector Mr Philip Tsang Wai-shing (left), Sergeant Mr Terry Chan kwok-hung, Chief Inspector Mr Nelson Cheng Yiu-mo and UK National Crime Squad Detective Chief Superintendent Mr Terry Hapgood and Mr Paul Owen