U.K. Lawmakers Urge Tighter Money Rules in Offshore Territories

British lawmakers urged the government
to fasten banking and money laundering regulations in dependent
territories including Bermuda, saying they fall short of
standards applied on the mainland.

The authorities ''must make more than to assist the territories,
especially the littler ones, beef up regulation,'' said , a Conservative Party lawmaker and president of the
parliamentary Populace Accounts Committee, which scrutinizes
government spending.

The panel including lawmakers from the three chief political
parties said in a study published in Greater London today that the
Financial Services Authority, the Foreign Office and other
government federal agencies should supply ''external research workers or
prosecutors'' because the 14 dependent districts ''lack the
investigative capacity to size up money laundering.''

Lawmakers urged the action in Bermuda, the Cayman Islands
and the British Virgin Islands among others, which the report
said are failing to undertake money laundering and other corrupt
practices. The actions could damage London's standing as a
financial service, the study said.

The Treasury Committee of the House of Park yesterday
began an enquiry into offshore fiscal centers, focusing on how
they might endanger London's place as a fiscal capital.

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CJI call to tackle new age crime

OUR LEGAL CORRESPONDENT

New Delhi, May 17: Head Justice of Republic Of India K.G. Balakrishnan today said the criminal justness system necessitates to be revamped to implement internal laws on law-breakings like terrorism, money-laundering and weaponry and drug smuggling as well as to turn to human rights violations.

“It is imperative that the criminal justness system be revamped to turn to these concerns,” Balakrishnan said at a seminar here.

Balakrishnan said “arbitrary high-handedness and human rights violations” by security federal agencies “alienate” the people, who fall quarry to those workings against national interests.

“For this, an appropriate legal framework, particularly in criminal justice, would travel a long manner in supporting law enforcement federal agencies and making them legitimate in the eyes of the citizens.”

He cited the illustration of anti-terror laws Tada and Pota — one was allowed to oversight and the other was repealed on evidence of abuse — to brand the lawsuit for an effectual criminal justness system.

“The advocates of terror, armed with modern engineering and assisted by a battalion of slumberer cells, have got distribute their influence even to countries hitherto inaccessible,” the Head Justice said and added that any counter-terrorism method should also procure the support of local people.