A conference for leading lawyers in Bermuda which takes place this week will look at the security problems posed by the use of new technology in possible money laundering and trusts.

The Society of Trust and Estate Practitioners or STEP are holding a conference on Trusting the Future at the Bermuda Underwater Exploration Institute on February 24.

About 100 delegates are expected to attend the afternoon session, which includes talks from Barrie Meade QC the former solicitor general on money laundering and Monica Jones, a trust specialist with AS&K on the future of trusts.

"We will have more and more people wanting to do everything from setting up on-line to viewing the state of the trust,'' said Ms Jones.

"We have to look at creating trusts on-line to the anti-money laundering implications on-line as well as changes in the family structure.'' Ms Jones also pointed to the new fortunes that have been created in the boom in the last year that are brining in a whole new set of potential business people wanting to be set up.

"The rise in the stock market has created a lot of new wealth and this is a very demanding group for whom we will have to look at a new or different structure to service.'' But despite the increase in the use of computers, Ms Jones believes that security checks will just be as rigorous as before.

"You have to do your verification. There is no way that can be done on-line yet. You may eventually be able to track phone records on line and have people using video-cameras on computers for video conferencing, but all the checks will still have to be done in person.'' Mrs. Jones added: "There are a lot of changes to the US trust laws and a lot of trusts have had to re-structure. Now we have to look at what the future looks like with the changes in technology, the investment world and in the law. We also have to face competition from other jurisdictions.

"The rules are changing all the time and the places we are getting business from in the future and the type of business will change. There is an increase in the trend for trusts to hold insurance policies for tax purposes as a lot of countries give favourable treatment for insurance.'' Mr. Meade was more keeping his cards close to his chest about what he was going to talk about in his speech on money laundering.

He said: "There are issues on whether tax evasion is going to expose trusts to greater risk.'' And added: "To hear the rest, you have to come to the conference.'' Taxing questions: AS&K lawyer Monica Jones, who specialises in setting up trusts in Bermuda, will speak on the future of trusts on the Island.

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