22nd July 2019
Gambling bodies are concerned an increase in the maximum wager allowed on betting machines would lead to increased money laundering, according to correspondence seen by the Sunday Independent. TDs have been told the controversial Gaming and Lotteries Bill would enable criminals to place bigger bets and make greater gains on… Read More
4th July 2019
Fraud squad detectives have arrested a member of a gang which has made millions from ripping off customers of Airbnb and other accommodation providers. In dawn raids yesterday, they arrested the man whose gang is suspected of laundering more than €1.5m in 90 separate bank accounts across the country. It… Read More
28th June 2019
An Irish subsidiary of JPMorgan will pay €1.6 million for failing to keep proper records and obtain approval of its outsourcing of fund administration activities, the country’s central bank said Wednesday.  The penalty by the Central Bank of Ireland is the first-ever to cite outsourcing-related violations, which are… Read More
18th December 2018
The European Central Bank (ECB) will take over the direct supervision of the Irish units of Barclays and Bank of America Merrill Lynch following an anticipated increase in size due to Brexit, the supervisor said. Banks that are considered to be ‘significant’ are directly supervised by the ECB, whereas less… Read More
7th September 2018
Police in Ireland have conducted raids across a number of properties as part of an investigation into a Nigerian gang suspected of laundering €14.6 million in criminal proceeds through Irish bank accounts. The police – or Garda – searched 15 premises across Dublin, Louth, Meath, Kildare and Laois, and… Read More
7th June 2018
AP — A former chief executive of the defunct Anglo-Irish Bank has been convicted of fraud for his role in inflating the lender’s balance sheet before it collapsed in the 2008 global financial crisis. David Drumm was convicted Wednesday of conspiring to inflate the bank’s deposit levels by 7.2… Read More
12th February 2018
AP – Iceland is expected to use more energy “mining” bitcoins and other virtual currencies this year than it uses to power its homes. With massive amounts of electricity needed to run the computers that create bitcoins, large virtual currency companies have established a base in the North Atlantic… Read More
28th November 2017
KYC360 News The Central Bank of Ireland has warned that firms using Ireland for ‘passporting’ into European Union financial markets will remain subject to Irish financial crime laws. The regulator made the remarks in a statement announcing its one million euro penalty for insurer Intesa Sanpaolo Life which… Read More
16th November 2017
By Helena Ciric, Iceland Review Around 60 cases against suspected tax evaders have been dropped by the district attorney’s office due to a break in case proceedings while waiting for a decision from the European Court of Human Rights. Kjarninn reported first. Many of the dropped cases are against individuals… Read More
6th November 2017
By Francesco Guarascio, REUTERS European Union states will on Tuesday discuss plans for a tax havens’ blacklist, officials said, in a bid to tackle offshore tax avoidance after leaked documents revealed investments by wealthy individuals and institutions around the globe. The subject’s inclusion on the monthly meeting’s agenda of EU… Read More