BPFI welcomes launch of Ireland’s first National Anti-Money Laundering Strategy

BPFI welcomes the launch of Ireland’s first National Anti-Money Laundering, Countering Financing of Terrorism and Countering Proliferation Financing Strategy by Tánaiste and Minister for Finance Simon Harris. The Strategy sets out a comprehensive plan to strengthen the State’s response to financial crime and protect Ireland’s economy, businesses and citizens.

Commenting on the publication of the strategy, Brian Hayes, Chief Executive, BPFI, said: “We welcome today’s publication of Ireland’s first National Anti-Money Laundering Strategy. Financial crime is increasingly sophisticated, technology-enabled and cross-border, and an effective response depends on close collaboration across the public and private sectors.”

Ireland’s first National Anti-Money Laundering Strategy

“Ireland’s banks invest significantly in preventing, detecting and disrupting financial crime and have an important role to play in protecting customers and the wider economy. We especially welcome the Strategy’s focus on enhanced intelligence and information sharing, stronger financial intelligence capabilities and a coordinated national response. We believe there is significant potential to deepen public-private information sharing and develop collaborative, technology-enabled approaches that allow financial institutions and public authorities to identify and disrupt criminal activity more effectively.”

Mr Hayes concluded: “BPFI and our members look forward to working with Government, An Garda Síochána, FIU Ireland, the Central Bank of Ireland and other partners to support the implementation of the Strategy and further strengthen Ireland’s collective ability to combat financial crime.”

Further details on the strategy can be found on the Department of Finance website here.

Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland. Together with its affiliates, the Federation of International Banks in Ireland, and the Fintech & Payments Association of Ireland, BPFI has over 120 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace.

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