LEGISLATION which could oblige estate agents, accountants and solicitors to report "suspicious" transactions involving large sums of money is to be considered by the Cabinet tomorrow.
The proposed measures are part of the anti crime package being drawn up in advance of Thursday's Dail debate on crime.
The legislation being considered could extend the reporting obligations which apply to banks and building societies into other "professional" areas. However, any such extension of Revenue or Garda powers may be resisted in financial and property circles.
It is understood that the extension of reporting obligations would not automatically follow passage of the "disclosure of information" Bill into law, but the Bill could provide for this to be done at a later stage by ministerial order.
The Bill is a response to the difficulties which the Garda and the Revenue Commissioners say they face in gaining information about criminals' assets. It follows evidence that many criminals are moving their money into property.
The legislation, which the Government hopes will pass all stages on Thursday, would also allow for easier exchange of information between the Garda and the Revenue. A separate Bill to give statutory backing to a new Task Force including the Garda, the Revenue and the Department of Social Welfare has also been drawn up.
Under current legislation, deposit taking institutions such as banks and building societies must alert the Garda Fraud Squad to suspicious lodgements.
Although there is a legal procedure for restraint orders to be granted, "freezing" such assets, this is considered cumbersome. The Department of Finance Bill is aimed at formulating a simpler method.
Extending the reporting obligation to professionals such as estate agents could lead to such professionals being prosecuted for not alerting the authorities to their role in, for example, buying a house for a client who has unexpectedly produced a large sum of money.