One of the biggest threats facing Bermuda is the risk of dirty money finding a haven on the Island, Premier Pamela Gordon warned yesterday.

And she said -- if tolerated -- money laundering and computer crime could destroy the economy.

Ms Gordon said: "People often ask me what my biggest worries are as Premier.

"Other than the personal safety and health of every Bermudian, there are two main concerns and on both I will fight like a tiger.

"The first concern is for defending and preserving Bermuda's public and private institutions.

"They are the bedrock of our society and of our success. The second concern is for protecting and promoting Bermuda's most valuable asset -- our workforce.'' But Ms Gordon added: "Money laundering and cybercrime subvert a country's institutions -- they steal more than money. They undermine a country's ability to compete.'' Ms Gordon's warning came at a one-day conference on fighting money laundering and hi-tech computer crime at the Bermuda College yesterday.

The conference brought together representatives from the banks, insurance, Police and accounting worlds to work out ways of keeping ahead of the game.

She said: "These crimes destabilise economies and unfairly damage reputations. They also create an illegal and parallel economy.'' And she added: "The working people in a country with an unstable economy and with a reputation for laxity in safeguarding their institutions have a bleak future, indeed.'' But she said Government -- through laws like last year's Proceeds of Crime Act -- were aware of the risks and cracking down on the possibility Bermuda could be used for crime.

Ms Gordon added: "This is why we are so vigilant and careful and why we cooperate and participate internationally.'' But she stressed: "Our local safeguards and interaction with the private sector and with the financial institutions in particular are firmly in place and under regular review to ensure that we are as up-to-date as possible.'' Ms Gordon said that Bermuda had worked with both Britain and the US over the years to keep ahead of sophisticated crime.

And she added that joint efforts with both the UK and America to fight crime were "expanding.'' Ms Gordon said that Bermuda had also begun to toughen its laws after consultation with the UK on money-laundering law.

She added: "We feel very proud in Bermuda that we are ahead of our Commonwealth counterparts in terms of legislation which deals with money-laundering and proceeds of crime.'' And she pledged further action to "further and enhance Bermuda's reputation as a jurisdiction of choice as a place to do international business.'' See Business, Page 33 CRIME CRM