IS IRELAND A “SAFE HAVEN” FOR THE WORLD’S DIRTY MONEY?

On 18 March, a post from Transparency International posed this question. Starting with reference to the case of Gulnara Karimova, the elder daughter of the former authoritarian president of Uzbekistan, Islam Karimov.  It is said that Karimova did not launder the proceeds of corruption in Uzbekistan but chose more reliable and reputable locations to manage her illicit fortune. One of these was Dublin’s International Financial Services Centre, with between $100 million and $300 million said to have passed through.  It is reported that Transparency International Ireland published a report recently suggesting that these cases could be the tip of something much bigger.  It examines the extent to which Ireland is prepared to detect, freeze and repatriate the proceeds of overseas corruption laundered through the Irish economy; and suggests that Ireland is ill-prepared to address many of the incentives that facilitate the laundering of the proceeds of corruption and organised crime through our financial services sector and the wider economy.

https://www.transparency.org/en/blog/is-ireland-a-safe-haven-for-the-worlds-dirty-money

The Transparency Ireland report from 21 February is at –

https://transparency.ie/news_events/report-finds-much-be-done-stop-ireland-becoming-‘safe-haven’-world’s-dirty-money

If you would like to make a modest contribution for my time and ongoing expenses, I have a page, where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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