30th May 2017
Ireland’s central bank has fined Bank of Ireland (BKIR.I) 3.15 million euros ($3.52 million) for “significant failures” in its controls against money laundering and terrorist financing, it said on Tuesday, the third lender to be hit with such a reprimand in six months. The Central Bank of Ireland said the… Read More
16th May 2017
US authorities have dropped sanctions against a number of Irish-based executives working for payments company Pacnet, who were linked to an investigation of the Canadian-headquartered group last year. Last autumn, the US department of the treasury sanctioned Pacnet for allegedly laundering money from schemes used to dupe people… Read More
28th April 2017
AIB’s failure to comply with anti-money laundering reporting procedures was a stain on the lender, chairman Richard Pym has said. There was “no excuse” and the failing was “a stain” on the bank, he told shareholders. The Central Bank announced this week it had fined AIB €2.275m for its failures… Read More
28th April 2017
Cyber criminals have targeted Trinity College in Dublin in what is feared to be a €1million money-laundering scam. Up €250,000 has been frozen in a number of bank accounts in the UK and US after an online crime gang targeted the hugely respected university. An online crime gang has targeted… Read More
28th April 2017
Ireland’s tax authority collected 7.7 million euros ($8.4 million) last year from offshore assets amid its aggressive stance toward tax evasion, according to the Irish Revenue’s 2016 annual report. Out of the total, 3.8 million euros came from tax payments, with interest payments and penalties making up the remaining 3.9… Read More
19th April 2017
Researchers at the University of Limerick are undertaking an investigation into tax and evasion in the European Union, in line with their European counterparts. The Combating Fiscal Fraud and Empowering Regulators project is one of the world’s largest research projects on tax and inequality, and aims to discover how much tax revenue is being lost… Read More
18th April 2017
The Criminal Assets Bureau has sent a file to the DPP in relation to six senior associates of the Kinahan crime cartel for suspected money-laundering offences. If a successful prosecution is brought, money-laundering convictions attract prison terms of up to 14 years, in addition to fines. It is part of… Read More
4th April 2017
Fourth new banknote in ‘Europa Series’ Enhanced security features to offer better protection against counterfeits Notes can be checked using Feel, Look, Tilt method The new €50 banknote will start circulating across Ireland and the euro area from 4 April. Read More
10th January 2017
On 6 December 2016, the Central Bank published the first in a series of AntiMoney Laundering (AML) bulletins. The purpose of the bulletins is to provide guidance and feedback to credit and financial institutions in applying ALM/ CFT and Financial Sanctions measures. Read More
6th January 2017
An online trading platform which sponsors UFC star Conor McGregor has reportedly been fined under money laundering laws. Read More