Ireland hoping to be new home of EU's money laundering watchdog

As many as nine other EU states will be in running

Stock picture

Ireland will enter into competition with as many as nine other EU states in a bid to be the new home of the EU's money laundering watchdog.

Finance Minister Michael McGrath on Tuesday received Cabinet approval for Ireland to submit a formal bid to the European Commission for Ireland to be the seat for the Anti-Money Laundering Authority (AMLA).