Monday 23 April 2018

Probe finds 37 suspect cash deals

OFFICIALS from an official anti-money laundering unit have uncovered 37 "suspicious" transactions since the start of the year, writes Tom Brady.

The finding came from 300 inspections of private members' gambling clubs and businesses trading in high-value goods worth €15,000 or more.

These are required to have controls in place, while tax advisers and some independent legal professionals are also subject to the legislation.

Justice Minister Alan Shatter said last night that businesses appeared to be responding well to the requirements.

He estimated that more than 5,000 businesses came within the scope of the unit while the directors of 27 private members' clubs had been registered for supervision by the unit.

The unit was established following an EU directive.

Irish Independent

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