DUBLIN: There has been a 40% jump in the number of suspicious financial transactions reported to the authorities in the last two years, according to Ireland’s first money-laundering report.
The National Risk Assessment for Ireland also said that 32 prosecutions for money laundering were taken between 2011 and 2015.
The document said the retail banking sector, money remittance services, and bureaux de change are deemed to be “high risk” areas for money laundering, and that casinos, high-value dealers as well as the legal and accountancy sectors are categorised as “medium to high” risk sectors.
The report cited previously published international estimates that there were around 40 organised crime groups (OCGs) in Ireland, of which at least nine had international links.
