Money laundering Police could do more in the battle to fight crime if they had more staff and resources, according to Detective Inspector Gary Wilson of the Financial Investigation Unit.

And it is a challenge for the department for the unit to investigate each suspicious activity report filed due to the current limitations.

But Mr. Wilson said that by the end of this year his division was set to get double the number of staff - and could move closer to town following recommendations made by the Financial Action Task Force.

Mr. Wilson added that the Commissioner of Police was currently addressing these issues and the need for training in the unit.

Speaking at the Anti-Money Laundering Conference last week, Mr. Wilson said: "The FIU could certainly achieve more in terms of the number of confiscations, forfeitures and money laundering cases presented before the court, but it has been restricted up until now in terms of manpower and resources.

"However with the anticipated expansion of the unit later this year, we should see those numbers increase progressively."

Speaking about the FATF recommendations, he added: "The FIU in particular did receive certain recommendations for improvement, especially in the areas of a need for continuous staff training, the staffing levels of the unit and physical location with respect to the financial community - bearing in mind we are two miles out of the city.

The Commissioner of Police is currently addressing these areas."

The unit mainly investigates suspicious activity reports and suspected money laundering activity. The number of suspicious activity reports has steadily been increasing, from 547 in the unit's first year to a peak of 2001 when there were 2,927.

Mr. Wilson pointed to staffing problems dealing with the numbers and said: "Upon establishment the Financial Investigations Unit consisted of one Detective Inspector, one Detective Sergeant and one Detective Constable. Today, one Detective Inspector, one Detective Sergeant and two Detective Constables staff the unit."

He added: "It is anticipated that the unit should double its strength by the end of 2003 with three additional police and a civilian analyst."

During 2002 the department received 2,570 suspicious activity reports - a figure Mr. Wilson said was high compared to other jurisdictions.

But was mainly to do with local drug trafficking operations and suspicious financial activity associated with this through local money transmitters.

These aside, there were 501 other reports in 2002.

"As can be seen from the statistics, there has been a steady increase in the number of suspicious activity reports made each year, and even more significant increase in suspicious activity reports received last year from institutions other than the money transmitter facility.

"On the whole the standard of reporting is high and it is certainly a challenge for the FIU in terms of handling such a large number and investigating them."

From the suspicious activity reports (SARs) the unit has undertaken nine money laundering investigations "as a result of one or several suspicious activity reports". Of those nine, one is currently under review and he said that they anticipated money laundering charges to follow shortly.

During their time there had been eight separate cash seizures, with four of them culminating in a money laundering investigation.

"Money laundering is here to stay. whether we like it or not," he told delegates, adding that they would continue to work towards catching the crooks behind the laundering. He said that his department faced many challenges. "The field of money laundering is developing and changing constantly, and legislation and law enforcement are always a step behind trying to catch up. "

The speed of change is a huge challenge for the Financial Investigation Unit, and we must continue to be vigilant and dedicated to the cause." Mr. Wilson said that this would lead to constant reviews of budgets for resources such as training and manpower. "Today money laundering is a global and transnational crime and the Financial Investigation Unit must be able to adapt and fully utilise its resources and partnerships with outside agencies and bodies."

Mr. Wilson added that the unit must also continue to nurture and develop its liaison and contact with local institutions to help detect the use of local financial services by money launderers and drug traffickers. In conclusion, he added: "The Financial Investigation Unit is still a police unit and faces tough challenges from within the Bermuda Police Service. There is an ever increasing complexity of the police operating environment and the unit will find increased competition for limited resources and priority with other units and departments." He added that the unit had developed well over the past five years and was heading in the right direction.

Mr. Wilson said: "The unit sets an example to other in terms of administering the provision of the proceeds of crime legislation. It had achieved small wins along the way and it continues to play a pivotal role within the local financial community."