Jan.02, 2010, 16:34

The Director of Financial Institutions made a thought-provoking address recently in a report published by the Borneo Bulletin. We should be thankful for this rather early warning message which prompts us to be ever vigilant of the dangers that lurk in the vicinity.

Brunei, as the director noted, has a porous border and is quite vulnerable. The director also mentioned that there has been instance in which some nefarious elements have tried to use this vulnerability to commit financial crimes. We are quite familiar with the scams that have been reported every now and then in the media.

Brunei's law enforcement agencies are doing well in keeping these elements at bay, while cooperation with regional financial agencies is in place to avert any major crimes being committed. But then the crooks with diabolic intentions are an innovative lot, as the world has seen.

Brunei, a renown peace-loving Sultanate, cannot afford to let any terror elements use its hospitality or financial agencies to their advantage.

We should take heed of the advice given by the Director of Financial Institutions seriously. It is pertinent and timely too. Money laundering is a highly sophisticated crime. Drug peddlers, gun-runners and other criminals usually look for vulnerable places to ply their nefarious trades, just like global syndicates using unsuspecting Brunei women to be drug mules.

Some terror organisations based around the world have been known to spread their tentacles far away from their usual theatres of action into unsuspecting countries through money laundering activities. This is why we in Brunei must remain forever alert.