Quick action needed in prosecuting those involved in money laundering

A suggestion for the banking sector and justice departments around the world to act quicker in the prosecution of individuals suspected to be involved in money laundering and ponzi schemes.
     

Robert E. O'Neill  a former US attorney who was also a prosecutor for the Middle District of Florida says there has to be clear established areas collaboration between law enforcement, banks and prosecutors.
  

O’ Neill , the Managing Director of Freeh Group International Solutions LLC  highlighted the conviction of Allen Stanford and Jamaican David Smith who ran ponzi schemes for a number of years without detection.

He said those were failings on the part of the authorities in the Caribbean and the United States.
According to O'Neil, the time it took between prosecution and arrest meant that Stanford and Smith were able to deplete some of the ill gotten assets which resulted in less going back to investors.

“I think in today’s world, the whole legal system will have to speed up somewhat because the world is speeding up, everything is speeding up . We are going to have to take these investigations that take years and years and make them quick. When someone has all the trappings of  wealth when they are able to hire the best attorneys , the best accountants, the best financial people, how do you shortcut that? That will be something that this country(Jamaica) the United States  and all other countries and going to have to figure out,” O'Neill said.