THE territory should consider asking banks to report all cash deposits above a pre-arranged limit, according to the accountant who played a key role in last week's landmark money laundering case. Jim Wardell, a partner with Deloitte Touche Tohmatsu, said it might be useful if bank employees decided to help money launderers, as they had in last week's case in which two men were convicted of helping launder drug money. He and his colleagues tracked more than 1,100 transactions which helped launder the proceeds from more than three-quarters of a tonne of heroin. The court heard that managers within the now-defunct Bank of Credit and Commerce (BCC) Hong Kong assisted the operation, even assigning a special desk in one of their branches to help drugs wholesaler Law Kin-man. Mr Wardell said cash reporting requirements, which exist in the US, 'are something to be considered' because it would make it more difficult for bank employees who want to help launderers to do so. At present, banks must report suspicious transactions but there is no set limit for what size of cash deposit counts as suspicious. At BCC, managers said they thought the 300-plus accounts, many under false names, were part of a tax evasion scheme in the United States and not drugs money. Even if they had known it was drugs money, assisting the laundering was not an offence until 1989 and only a small number of staff helped the laundering effort. Mr Wardell acknowledged there were many large legitimate cash deposits in local banks, and there was a risk the authorities might receive a flood of notifications. Speaking for the first time in public after nearly six years on the case, Mr Wardell was asked whether he thought there might still be syndicates of this scale operating in the territory. He replied: 'I would be surprised, but one never knows.' Last week's trial saw Lo Chak-man and Tsoi Sau-nga become the first people to be convicted under money-laundering legislation introduced in 1989, for helping Law launder his money. They will be sentenced this morning. Law is in the US after having pleaded guilty to one count of drug trafficking and is awaiting sentence. Money was also laundered through the stock market. This has become more difficult since the switch from physical stock certificates to a computerised register of shareholdings.