New laws to combat financial crime will send a message to terrorist organisations and fraudsters that Ireland is \u201cnot a safe place to launder criminal proceeds\u201d, T\u00e1naiste Simon Harris has said.<\/p>\n
Launching Ireland\u2019s first anti-money laundering strategy, Mr Harris said it would become more difficult for criminal gangs to move funds anonymously or to exploit the financial system.<\/p>\n
The strategy will include strengthening the supervision of financial institutions and improving the oversight of sectors such as gambling which are vulnerable to money laundering.<\/p>\n
Mr Harris said the strategy was built around a number of priorities, including enhancing international co-operation and delivering a stronger regulatory framework.<\/p>\n
Reforms will include strengthening anti-money laundering rules for crypto-assets and crypto transfers, making it more difficult for criminals to move illicit funds anonymously.\u00a0<\/p>\n
The strategy also aims to increase transparency around company ownership, making it harder for criminals to hide behind complex corporate structures.<\/p>\n
It will also introduce new disclosure requirements for limited partnerships and other higher-risk corporate vehicles, and modernise financial intelligence capabilities.<\/p>\n
The T\u00e1naiste said it will also strengthen intelligence-sharing between government departments, garda\u00ed, Revenue, FIU Ireland, the Criminal Assets Bureau, the Central Bank and financial institutions.<\/p>\n
He said: \u201cCriminal organisations are becoming increasingly sophisticated. They are exploiting new technologies, crypto-assets and complex international financial networks to conceal criminal profits.<\/p>\n
\u201cGovernment must continue to stay ahead of those threats.\u201d Mr Harris said it was the \u201cmost significant strengthening of Ireland\u2019s anti-money laundering framework in years\u201d.<\/p>\n
He added: \u201cIt will give our law enforcement agencies stronger tools, improve intelligence-sharing across the State, strengthen oversight of emerging risks and ensure Ireland continues to meet the highest international standards.<\/p>\n
\u201cToday\u2019s launch sends a clear message: Ireland will not be a safe place to launder criminal proceeds.”<\/p>\n
He said implementation of the strategy is already under way and will be delivered through close co-operation between Government departments, law enforcement agencies, regulators and the private sector.<\/p>\n","protected":false},"excerpt":{"rendered":"New laws to combat financial crime will send a message to terrorist organisations and fraudsters that Ireland is…\n","protected":false},"author":2,"featured_media":592109,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[59150,61,60,43],"class_list":["post-592108","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ireland","tag-gangland-crime","tag-ie","tag-ireland","tag-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/592108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=592108"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/592108\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/592109"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=592108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=592108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=592108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}