Dáil Éireann Debate, Thursday - 5 February 2026
184. Deputy Ken O'Flynn asked the Tánaiste and Minister for Finance the number of supervisory findings, remedial directions, or enforcement actions issued by the Central Bank of Ireland since 2019 which involved deficiencies in the identification or verification of ultimate beneficial owners; and whether such deficiencies arose more frequently in any particular sector. [9064/26]
View answerI am advised by the Central Bank of Ireland that the breakdown of the remedial actions issued to firms since 2019 which have a Customer Due Diligence (“CDD”) nexus is as follows:
|
Sector |
Count |
|
Credit Institutions |
119 |
|
Investment Firms |
6 |
|
Fund Service Providers |
13 |
|
Other Financial Institutions |
176 |
|
Total |
314 |
CBI notes that these figures are overall figures for CDD-related findings and not specifically in respect of the identification and verification of ultimate beneficial owners.
The Central Bank implements a risk-based approach to AML/CFT supervision of credit and financial institutions. This means that higher intensity measures are used to monitor firms that are higher risk from a ML/TF perspective. As such, the figures below are not necessarily an indication that certain sectors have weaker CDD control measures than others and the figures should not be interpreted as such.
