Money laundering is a growing problem in Iceland, reported the Icelandic National Broadcasting Service, RÚV. It is estimated to amount to tens of billions of Icelandic króna.
Björn Fridfinsson, a chairman of a committee on money laundering in Iceland, said that organized crime seeks to launder its ill gotten gains by investing in legitimate business. .
Lawyers, dentists, accountants, and restaurant owners have been caught laundering money for a fee.
Björn said that a special measures have been put into place – laws on money laundering are continuously being reviewed and a bill revamp the current laws is under deliberation in Althingi.
A delegation from OECD, the Financial Action Task Force on Money Laundering (FATFML) is due to visit Iceland, reported RÚV.
