Ireland’s massive investment‑funds industry, now holding more than €5.5 trillion in assets, filed only 187 suspicious transaction reports (STRs) in 2024, the Oireachtas Finance Committee has heard, prompting warnings that the State is failing to detect foreign illicit wealth flowing through the Irish Financial Services Centre (IFSC).
Transparency International Ireland (TI) told the committee that Ireland faces “significant and increasing threats from foreign criminal proceeds”, citing recent IMF and The Financial Action Task Force (FATF) assessments.
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