Irish firms struggling to comply with anti-money laundering regulations

The new EU requirements come into force next year

Most Irish financial institutions say they will not be compliant with new EU anti-money laundering requirements when they come into force next year. Picture: PA

Most Irish financial institutions say they will not be compliant with new EU anti-money laundering requirements when they come into force next year.

Just 43% of Irish financial institutions expect to be fully compliant with the new requirements, according to research by PwC, with substantial compliance gaps, rising costs, and operational strain.