Central Bank warns on money laundering

Ireland faces quite a challenge meeting new standards designed to prevent money laundering ahead of a major international review next year, the Central Bank’s head of enforcement has said.

Derville Rowland said the country will be assessed on technical rules and the effectiveness of its anti-money laundering regime by the international body — the Financial Action Task Force.

The group monitors how countries implement measures to combat money laundering, terrorist financing and other threats to the world’s banking system.