|
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Sanctions:
None applicable
____________________________________________________
Offshore Jurisdiction Blacklists:
Information unavailable.
____________________________________________________
US State Department Money Laundering Report - 2011:
Ireland is an increasingly significant European and international
financial services hub, with a number of multinational banks
having set up offices in Dublin.
The primary sources of funds laundered in Ireland are
prostitution, cigarette smuggling, drug trafficking, fuel laundering,
domestic tax violations and welfare fraud. Customs authorities
have also intercepted cash from drug dealing which was being
smuggled out of Ireland. The largest such interception was in
2010 when a suitcase belonging to an Irish drug trafficker
containing €676,000 (approximately $878,800) in used bank
notes was seized at Dublin International Airport.
Irish authorities estimate that up to 80 percent of the reports of
suspicious transactions filed with them involve funds derived from
domestic tax violations and social welfare fraud. While money
laundering occurs via credit institutions such as banks, money
has also been laundered through schemes involving remittance
companies, solicitors, accountants, and second-hand car
dealerships. According to law enforcement, money is most
commonly laundered through the purchase of high-value goods
for cash; the transfer of funds from overseas through Irish credit
institutions; the filtering of funds via complex company structures;
and the purchase in Ireland of Irish and foreign real property.
DO FINANCIAL INSTITUTIONS ENGAGE IN CURRENCY
TRANSACTIONS RELATED TO INTERNATIONAL NARCOTICS
TRAFFICKING THAT INCLUDE SIGNIFICANT AMOUNTS OF US
CURRENCY; CURRENCY DERIVED FROM ILLEGAL SALES IN
THE U.S.; OR THAT OTHERWISE SIGNIFICANTLY AFFECT THE
U.S.: NO
CRIMINALIZATION OF MONEY LAUNDERING:
“All serious crimes” approach or “list” approach to predicate
crimes: All crimes approach
Legal persons covered: criminally: YES civilly: YES
CRIMINALIZATION OF TERRORIST FINANCING:
Ability to freeze terrorist assets without delay: YES
UN lists of designated terrorists or terrorist entities distributed to
financial institutions: YES
KNOW-YOUR-CUSTOMER RULES:
Covered entities: Banks, building societies, the post office, stock
brokers, credit unions, currency exchanges, life insurance
companies, and insurance brokers
Enhanced due diligence procedures for PEPs: Foreign: YES
Domestic: YES
SUSPICIOUS TRANSACTION REPORTING REQUIREMENTS:
Covered entities: Banks, building societies, the post office, stock
brokers, credit unions, currency exchanges, life insurance
companies, and insurance brokers
Number of STRs received and time frame: 14,500 in 2009
Number of CTRs received and time frame: Not available
MONEY LAUNDERING CRIMINAL
PROSECUTIONS/CONVICTIONS:
Prosecutions: 11 in 2009
Convictions: Two in 2009
Assets forfeited: criminally: €1.35 million (approximately $1.9
million) in 2009 civilly: Not available
RECORDS EXCHANGE MECHANISM:
With the United States: YES
With other governments/jurisdictions: Exchange intelligence only
Ireland is a member of the Financial Action Task Force. Its most
recent mutual evaluation can be found here: http://www.fatf-gafi.
org/dataoecd/63/29/36336845.pdf
ENFORCEMENT AND IMPLEMENTATION ISSUES AND
COMMENTS:
The Criminal Justice (Money Laundering and Terrorist Financing)
Bill 2010 consolidates Ireland’s existing anti-money laundering
and counter-terrorist financing laws, which previously were
contained mainly in the Criminal Justice Act 1994. It also
increases the obligations on a wide range of individuals and
organizations to disclose information related to suspected money-
laundering and terrorist financing.
On June 17, 2010, Ireland became a party to the UN Convention
against Transnational Organized Crime. The Government of
Ireland should establish mechanisms for sharing information with
other jurisdictions and providing assistance in transnational
criminal investigations. Ireland also should become a party to the
UN Convention against Corruption.
____________________________________________________
US State Dept Narcotics Report 2011 (introduction):
No report available
____________________________________________________
US State Dept Trafficking in Persons Report 2011
(introduction):
(Tier 1)
Ireland is a destination, source and transit country for women,
men, and children subjected to sex trafficking and forced labor.
Sex trafficking victims originate in Eastern Europe, Africa,
including Nigeria, as well as South America and Asia. Labor
trafficking victims reportedly consist of men and women from
Bangladesh, Pakistan, Egypt, and the Philippines, though there
may also be some victims from South America, Eastern Europe,
and other parts of Asia and Africa. Forced labor victims are found
in domestic service, restaurant, and agricultural work. According
to local reporting, including an NGO service provider, some
victims have been subjected to domestic servitude by foreign
diplomats posted in Ireland. According to local experts, children
are subjected to prostitution in various cities in Ireland, including
Sligo, Kilkenny, Cork, and Dublin. A 2010 report by NGO experts
concluded that victims of sex trafficking in Ireland are subjected to
multiple repressive methods, including debt bondage, as well as
physical and psychological coercion, which prevent their
discovery by law enforcement. Further, NGOs report that the
majority of trafficking victims in Ireland remain unidentified; only
victims who escape, are rescued, or pay off their indentured debts
come to the attention of authorities.
The Government of Ireland fully complies with the minimum
standards for the elimination of trafficking. During the year, the
Irish government funded NGOs that provided specialized
assistance to victims of forced labor and forced prostitution and
increased implementation of its anti-trafficking law. The
government, however, prosecuted and convicted only one person
for a human trafficking offense, involving the commercial sexual
exploitation of a child. The government identified a number of
possible victims of trafficking, but only a few were granted official
victim status or provided with temporary residency permits in 2010.
For full report click here
____________________________________________________
US State Dept Terrorism Report 2010
Overview: In 2010, violent actions by members of the Real Irish
Republican Army and the Continuity Irish Republican Army
terrorist groups committed in neighboring Northern Ireland (see
UK country report for further information on Northern Ireland)
were traced back to support provided by persons living in the
Republic of Ireland. The immediate targets of violence were the
law enforcement and security structures of neighboring Northern
Ireland and the ongoing peace process. Relations between the U.
S. government and Irish law enforcement officials were
increasingly positive.
Countering Terrorist Finance: Ireland is a member of the Financial
Action Task Force (FATF). The Criminal Justice (Money
Laundering and Terrorist Financing) Bill of 2010 enacted the EU’s
third money laundering directive into Irish law, which gave effect to
several FATF recommendations. The act consolidated Ireland’s
existing anti-money laundering and counterterrorist finance laws
and increased the obligations on a wide range of individuals and
organizations to disclose information related to suspected money
laundering and terrorist financing.
Regional and International Cooperation: Ireland actively
participated in the counterterrorism efforts of the EU, the OSCE,
and the UN.
Countering Radicalization and Violent Extremism: The
Government of Ireland continued significant efforts to mitigate
conditions conducive to the radicalization of minority groups.
These measures included social benefits, language training, and
an ombudsman’s office to advocate on behalf of immigrants.
____________________________________________________
AML News / Updates
February 10, 2011 - The Global Forum on Transparency and
Exchange of Information for Tax Purposes has issued a Combined
Phase 1 and Phase 2 review for Ireland
View Review....
Links:
Worldwide AML Legislation (International Bar Association)
None applicable
____________________________________________________
Offshore Jurisdiction Blacklists:
Information unavailable.
____________________________________________________
US State Department Money Laundering Report - 2011:
Ireland is an increasingly significant European and international
financial services hub, with a number of multinational banks
having set up offices in Dublin.
The primary sources of funds laundered in Ireland are
prostitution, cigarette smuggling, drug trafficking, fuel laundering,
domestic tax violations and welfare fraud. Customs authorities
have also intercepted cash from drug dealing which was being
smuggled out of Ireland. The largest such interception was in
2010 when a suitcase belonging to an Irish drug trafficker
containing €676,000 (approximately $878,800) in used bank
notes was seized at Dublin International Airport.
Irish authorities estimate that up to 80 percent of the reports of
suspicious transactions filed with them involve funds derived from
domestic tax violations and social welfare fraud. While money
laundering occurs via credit institutions such as banks, money
has also been laundered through schemes involving remittance
companies, solicitors, accountants, and second-hand car
dealerships. According to law enforcement, money is most
commonly laundered through the purchase of high-value goods
for cash; the transfer of funds from overseas through Irish credit
institutions; the filtering of funds via complex company structures;
and the purchase in Ireland of Irish and foreign real property.
DO FINANCIAL INSTITUTIONS ENGAGE IN CURRENCY
TRANSACTIONS RELATED TO INTERNATIONAL NARCOTICS
TRAFFICKING THAT INCLUDE SIGNIFICANT AMOUNTS OF US
CURRENCY; CURRENCY DERIVED FROM ILLEGAL SALES IN
THE U.S.; OR THAT OTHERWISE SIGNIFICANTLY AFFECT THE
U.S.: NO
CRIMINALIZATION OF MONEY LAUNDERING:
“All serious crimes” approach or “list” approach to predicate
crimes: All crimes approach
Legal persons covered: criminally: YES civilly: YES
CRIMINALIZATION OF TERRORIST FINANCING:
Ability to freeze terrorist assets without delay: YES
UN lists of designated terrorists or terrorist entities distributed to
financial institutions: YES
KNOW-YOUR-CUSTOMER RULES:
Covered entities: Banks, building societies, the post office, stock
brokers, credit unions, currency exchanges, life insurance
companies, and insurance brokers
Enhanced due diligence procedures for PEPs: Foreign: YES
Domestic: YES
SUSPICIOUS TRANSACTION REPORTING REQUIREMENTS:
Covered entities: Banks, building societies, the post office, stock
brokers, credit unions, currency exchanges, life insurance
companies, and insurance brokers
Number of STRs received and time frame: 14,500 in 2009
Number of CTRs received and time frame: Not available
MONEY LAUNDERING CRIMINAL
PROSECUTIONS/CONVICTIONS:
Prosecutions: 11 in 2009
Convictions: Two in 2009
Assets forfeited: criminally: €1.35 million (approximately $1.9
million) in 2009 civilly: Not available
RECORDS EXCHANGE MECHANISM:
With the United States: YES
With other governments/jurisdictions: Exchange intelligence only
Ireland is a member of the Financial Action Task Force. Its most
recent mutual evaluation can be found here: http://www.fatf-gafi.
org/dataoecd/63/29/36336845.pdf
ENFORCEMENT AND IMPLEMENTATION ISSUES AND
COMMENTS:
The Criminal Justice (Money Laundering and Terrorist Financing)
Bill 2010 consolidates Ireland’s existing anti-money laundering
and counter-terrorist financing laws, which previously were
contained mainly in the Criminal Justice Act 1994. It also
increases the obligations on a wide range of individuals and
organizations to disclose information related to suspected money-
laundering and terrorist financing.
On June 17, 2010, Ireland became a party to the UN Convention
against Transnational Organized Crime. The Government of
Ireland should establish mechanisms for sharing information with
other jurisdictions and providing assistance in transnational
criminal investigations. Ireland also should become a party to the
UN Convention against Corruption.
____________________________________________________
US State Dept Narcotics Report 2011 (introduction):
No report available
____________________________________________________
US State Dept Trafficking in Persons Report 2011
(introduction):
(Tier 1)
Ireland is a destination, source and transit country for women,
men, and children subjected to sex trafficking and forced labor.
Sex trafficking victims originate in Eastern Europe, Africa,
including Nigeria, as well as South America and Asia. Labor
trafficking victims reportedly consist of men and women from
Bangladesh, Pakistan, Egypt, and the Philippines, though there
may also be some victims from South America, Eastern Europe,
and other parts of Asia and Africa. Forced labor victims are found
in domestic service, restaurant, and agricultural work. According
to local reporting, including an NGO service provider, some
victims have been subjected to domestic servitude by foreign
diplomats posted in Ireland. According to local experts, children
are subjected to prostitution in various cities in Ireland, including
Sligo, Kilkenny, Cork, and Dublin. A 2010 report by NGO experts
concluded that victims of sex trafficking in Ireland are subjected to
multiple repressive methods, including debt bondage, as well as
physical and psychological coercion, which prevent their
discovery by law enforcement. Further, NGOs report that the
majority of trafficking victims in Ireland remain unidentified; only
victims who escape, are rescued, or pay off their indentured debts
come to the attention of authorities.
The Government of Ireland fully complies with the minimum
standards for the elimination of trafficking. During the year, the
Irish government funded NGOs that provided specialized
assistance to victims of forced labor and forced prostitution and
increased implementation of its anti-trafficking law. The
government, however, prosecuted and convicted only one person
for a human trafficking offense, involving the commercial sexual
exploitation of a child. The government identified a number of
possible victims of trafficking, but only a few were granted official
victim status or provided with temporary residency permits in 2010.
For full report click here
____________________________________________________
US State Dept Terrorism Report 2010
Overview: In 2010, violent actions by members of the Real Irish
Republican Army and the Continuity Irish Republican Army
terrorist groups committed in neighboring Northern Ireland (see
UK country report for further information on Northern Ireland)
were traced back to support provided by persons living in the
Republic of Ireland. The immediate targets of violence were the
law enforcement and security structures of neighboring Northern
Ireland and the ongoing peace process. Relations between the U.
S. government and Irish law enforcement officials were
increasingly positive.
Countering Terrorist Finance: Ireland is a member of the Financial
Action Task Force (FATF). The Criminal Justice (Money
Laundering and Terrorist Financing) Bill of 2010 enacted the EU’s
third money laundering directive into Irish law, which gave effect to
several FATF recommendations. The act consolidated Ireland’s
existing anti-money laundering and counterterrorist finance laws
and increased the obligations on a wide range of individuals and
organizations to disclose information related to suspected money
laundering and terrorist financing.
Regional and International Cooperation: Ireland actively
participated in the counterterrorism efforts of the EU, the OSCE,
and the UN.
Countering Radicalization and Violent Extremism: The
Government of Ireland continued significant efforts to mitigate
conditions conducive to the radicalization of minority groups.
These measures included social benefits, language training, and
an ombudsman’s office to advocate on behalf of immigrants.
____________________________________________________
AML News / Updates
February 10, 2011 - The Global Forum on Transparency and
Exchange of Information for Tax Purposes has issued a Combined
Phase 1 and Phase 2 review for Ireland
View Review....
Links:
Worldwide AML Legislation (International Bar Association)
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| Further Tables |
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*Please note that FATF deems that a country has significant aml deficiencies if any
of the 'Core' Recommendations, R1, R5, R10, R13, SRII, or SRIV are rated either
Partially of Non-Compliant. These are marked in red.
For FATF to remove a country from the regular follow-up process, it has to be rated
Compliant or Largely Compliant in the above mentioned Core Recommendations
and the following Key Recommendations: -
R3, R4, R23, R26, R35, R36, R40, SRI, SRIII, SRV
Please also note that any risk assessment should take into consideration all
follow-up reports.
of the 'Core' Recommendations, R1, R5, R10, R13, SRII, or SRIV are rated either
Partially of Non-Compliant. These are marked in red.
For FATF to remove a country from the regular follow-up process, it has to be rated
Compliant or Largely Compliant in the above mentioned Core Recommendations
and the following Key Recommendations: -
R3, R4, R23, R26, R35, R36, R40, SRI, SRIII, SRV
Please also note that any risk assessment should take into consideration all
follow-up reports.
| IRELAND |
| KnowYourCountry |
|
|
| Last Updated: 16 April 2012 |