The Proceeds of Crime Amendment Act 2012 passed with little fanfare yesterday, but not before a series of questions on the cash for gold exchange in Bermuda.National Security Minister Wayne Perinchief who piloted the Bill through the House of Assembly said talks are underway to implement licencing controls for the cash for gold business.He was responding to concerns raised by One Bermuda Alliance MP Cole Simons who said local jewellers and the cash for gold outlets could “unintentionally” be part of the proceeds of crime problem.“With the spate of break-ins and people being accosted quite a bit of jewellery has been stolen from people’s homes, and some of these criminals have been taking the jewellery to jewellery stores, craftsmen, and silversmiths basically to sell for cash,” said Mr Simons.“I would like to know what type of controls do we have in place to ensure that our jewellers don’t fall victim to the proceeds of crime.“Right now things are quite economically tight and a number of people are selling their gold so we need to ensure that jewellers are not playing a role in realising cash from the proceeds of crime.”He called on the Minister to ensure that controls are in place “to enable the jewellers to be more vigilant, and his comments were echoed by the Shadow Minister of Justice Trevor Moniz.With the price of gold in the region of $1,600 an ounce Mr Moniz said: “Its worth more melted down than in the form of jewellery, which is a very good way of hiding stolen items.”He also pointed up the case of a Smith’s parish resident who had their jewellery stolen and told the police who stole it only to be told that the police know who the culprit is but cannot find them.“In this community we’re in a position where in some aspects its looking pretty lawless so there is great concern in the community,” he said.“There are people now advertising on the internet in Bermuda for gold to melt down for its value.”The Minister said: “I’m checking now to find out just what licences they need but I do know that they normally photograph and document the ownership of the property.”In some cases he said: “Stolen property has been recovered by means of identification by the owner who called around to trace their stolen jewellery to a person who had purchased it legitimately, not knowing that it was stolen but it was returned to the rightful owner.“I am in the process of speaking with the Commissioner of Police and others to make sure that there is some sort of oversight other than just self reporting by the jewellers.” said Mr Perinchief.Since July 2011 to date “some 50 seizures have been made” under the Proceeds of Crime Act 1997, “demonstrating that the legislation was not passed in vain”.The Bill provides the police with “additional powers to seize tangible personal property including but not limited to jewellery, a motor car, a motor bike, a pleasure craft or cash or any negotiable instrument” but it “expressly excludes real property”.The police must also have reasonable grounds to do so, and a senior officer of the rank of inspector or above “must authorise the detention of the property in writing”.“Mr and Mrs Bermuda can take comfort in knowing that there are safeguards in place by way of the checks and balances ingrained in the law to ensure that they are not unduly harassed,” said Mr Perinchief.“When properly administered, the impact of this relatively short Bill can be instrumental in eliminating the resources of the gang culture that is threatening the peaceful way of life which majority of Bermudian people wish to enjoy.”OBA Leader Craig Cannonier commended the Minister for his work and said: “This goes a long way also in being responsible and admitting and going through the process of this Act,” said Mr Cannonier.“It goes a long way in saying to those involved in gang activity and criminal activity that Bermuda will come down with a heavy hand.”Premier Paula Cox said: “It allows the police and the administration of justice through the courts to be able follow the money.“Crime bites but the agencies and authorities can bite back when they can also interrupt the rhythm of crime and also make it non-productive and non-profitable for people to engage in crime.“This Proceeds of Crime Amendment Act 2012 in terms of the ability to seize property excluding land is very important.”“As part of the Government’s plans for transformation you’re able to direct those funds where they could do the most good,” she said before commending the Minister “and those who are working in justice to seize and assist us to seize ill gotten gains”.Funds seized were “earmarked to set up agencies” by way of the Confiscated Assets Fund.That fund funded $2.4 million in allocations to Turning Point, and some $116,000 to CARE Learning Centre.Ms Cox said: “By a process of conversion, you’re taking ill gotten gains to direct those funds where they could do the most good. And those ill gotten gains “is the drive of people to use and perpetrate acts of violence and also invade people’s homes.But Mr Moniz said: “You talk about follow the money, lets have a report on what the police seize, which ones the courts make an order of forfeiture and where that money then goes whether its in the fund or whether its given to some charity or otherwise to ensure that everything is proceeding according to Hoyle.”As for real estate being excluded from the Bill he said: “You get drug dealer who buys property but under this legislation you are not able to seize it because the law is not there.”