News 
 National News 
 National 
 General 
 Year of black money: $30m seized 

Year of black money: $30m seized

19/11/2008 1:00:01 AM

THE seizure of $30 million from criminals in 12 months may be only a drop in an ocean of black money, the state's crime watchdog says.

The NSW Crime Commission, in its annual report tabled in State Parliament last week, says ports are infiltrated by organised crime, and Australia is a particular target for drug rings because of high profit margins. Referring to the "porosity" of ports, the report says criminal involvement at seaports and airports is a concern.

"In particular, persons working in baggage and freight handling, stevedoring, transportation and related industries are known to include criminals and persons with criminal connections."

The commission says its haul of assets and cash, $12 million more than in the previous year, would have little effect on the black economy. "While $30 million seems a large sum to take out of the hands of criminals in a year, the scale of money laundering and accumulation of proceeds of crime is such that the amount confiscated can only have a slight effect."

The supply of cocaine may also be rising, with a big drop in the price per kilogram over the year a good indicator of increased availability.

The profit margins for importers made cocaine an attractive option. The price per kilogram in Australia is often 10 times that of the purchase price overseas, the report says.

The commission had authorised 31 "controlled operations", or undercover operations, in the past 12 months.

It has been criticised over a controlled operation dubbed Mocha in 2004 in which it authorised the release of six kilograms of cocaine onto Sydney's streets.

The Government was forced to investigate when the operation became public knowledge.

In September the High Court made a unanimous finding that the sale would have been likely to endanger seriously the health or safety of some drug users.

The commission, renowned for its ability to compel alleged criminals to answer questions in its so-called star chamber and to seize cash and assets, has made several prominent busts recently.

Since June last year it has seized more than $20 million in homes, cars, cash and other assets from members of the so-called Golden Gun syndicate, allegedly responsible for the import and sale of hundreds of kilograms of high-grade cocaine.

But the annual report makes scant reference to the case of Mark Standen, a commission assistant director charged for his alleged involvement in an attempt to import an amphetamine precursor. In a list of the commission's senior staff the report says: "Mark Standen … (until 2 June 2008)".

Standen was arrested at his desk at the commission's offices in Kent Street on June 2, after a two-year federal police investigation.

In the fallout from his arrest and charging, the Government legislated to give the Police Integrity Commission oversight of the commission, which had been free of statutory monitoring.

Print
Increase Text Size
Decrease Text Size
Page:
1



MOST POPULAR

Yourguide to Your Toyota
 SEND...
 SAVE...
 SHARE...