Gardai will now be able to receive reports of fraud & terrorist financing electronically
An Garda Síochána have acquired a new IT software solution system to help combat money laundering and terrorist financing.
It will be used by the Financial Intelligence Unit (FIU) within the Garda National Economic Crime Bureau (GNECB).
Gardai acknowledged the need for a broad and multi-disciplinary range of measures in order to efficiently and effectively combat organised crime, money laundering and terrorist financing.
FIUs were established around the globe on recommendations by the The Financial Action Task Force (FATF) who promote "effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing in the international financial system."
The new IT software solution went live to all reporting entities from 8am this morning.
Chief Superintendent Patrick Lordan says it will be of benefit in tracking money launderers and terrorist financiers.
The major benefits of the software is the ability to receive reports of suspected money laundering and terrorist financing electronically in a secure environment.
It also provides for the swift exchange of information between the FIU in Ireland and other FIUs throughout the world in the fight against money laundering and terrorist financing globally.
An Garda Síochána said the IT software solution is a key tool in enhancing their ability to detect money laundering, terrorist financing and associated crime as well as meeting international anti-money laundering and counter-terrorist financing standards.
Gardai launching new systems today to tackle fraud & terrorist financing. Allows banks to electronically report suspicions pic.twitter.com/9jnLwEXLNq— Sean Defoe (@SeanDefoe) June 12, 2017