Ireland's progress in strengthening measures to tackle money laundering and terrorist financing

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English

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Follow-Up Report Ireland 2019

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Follow-Up-Report-Ireland-2019.pdf
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12 November 2019 – Since the 2017 assessment of Ireland’s measures to tackle money laundering and terrorist financing, the country has taken a number of actions to strengthen its framework.

Ireland has been in an enhanced follow-up process following the adoption of its mutual evaluation in 2017. In line with the FATF Procedures for mutual evaluations, the country has reported back to the FATF on the action it has taken since then.

To reflect Ireland’s progress, the FATF has now re-rated the country on the following Recommendations:

2 – National cooperation and coordination from largely compliant to compliant

12 – Politically exposed persons from partially compliant to compliant

15 – New technologies from partially compliant to largely compliant

16 – Wire transfers from partially compliant to compliant

18 – Internal controls and foreign branches and subsidiaries from partially compliant to largely compliant

19 – Higher-risk countries from non-compliant to largely compliant from partially compliant to largely compliant

25 – Transparency and beneficial ownership of legal arrangements from partially compliant to largely compliant

26 – Regulation and supervision of financial institutions from largely compliant to compliant

29 – Financial intelligence unit from partially compliant to compliant

31 - Powers of law enforcement and investigative authorities from largely compliant to compliant

34 - Guidance and feedback from largely compliant to compliant

The report also looks at whether Ireland’s measures meet the requirements of FATF Recommendations that have changed since the 2017 mutual evaluation. The FATF agreed to maintain the rating of partially compliant for Recommendation 7 (Targeted financial sanctions related to proliferation) and maintain Recommendation 21 (Tipping-off and confidentiality) as compliant.

Today, Ireland is compliant on 17 Recommendations of the 40 Recommendations and largely compliant on 16 of them. It remains partially compliant on 7 of the 40 Recommendations.

Ireland will move from enhanced to regular follow-up and will continue to report back to the FATF on progress to strengthen its implementation of AML/CFT measures. 

Earlier reports

  • 7 Sep 2017

    Ireland's measures to combat money laundering and the financing of terrorism and proliferation Ireland has a sound and substantially effective regime to tackle money laundering and terrorist financing, but could do more to obtain money laundering and terrorist financing convictions and demonstrate its effectiveness in confiscating proceeds of crime.
  • 4 Jul 2013

    Mutual Evaluation of Ireland: 11th Follow-up Report This follow-up report provides an overview of the main changes made to the AML/CFT system in Ireland since the adoption of its mutual evaluation report in June 2006. In June 2013, the FATF recognised that Ireland had made significant progress in addressing deficiencies identified in its mutual evaluation report and decided that the country should be removed from the regular follow-up process.
  • 16 Jun 2006

    Mutual Evaluation of Ireland This report provides a summary of the AML/CFT measures in place in Ireland at July 2005 (the date of the on-site visit). The report describes and analyses those measures and provides recommendations on how certain aspects of the system could be strengthened. It also sets out Ireland’s levels of compliance with the FATF 40 + 9 Recommendations (see attached table on the Ratings of Compliance with the FATF Recommendations). The Irish Government recognises the need for an effective AML/CFT regime and is in the process of updating its ML/TF framework.

Related materials

The FATF Recommendations

The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The FATF calls upon all countries to effectively implement these measures in their national systems.

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The 2022 and 2013 Methodologies for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT/CPF Systems

These documents are guides intended for use by assessors who are tasked with conducting a mutual evaluation. They provide a structured framework of analysis that ensures a level of consistency and high quality of the mutual evaluation reports produced. Latest update: August 2024