EU

EU marks Ireland’s card over trust register amid money laundering concerns

Brussels has launched an infringement procedure against the government for failing to fully comply with rules on trusts

The EU fears trusts are being used to launder money or evade financial sanctions on countries like Iran or Russia. Picture: Getty

The European Commission has warned the government once again that it has failed to bring its anti-money laundering rules into line with the bloc’s.

Brussels launched the first step of an infringement procedure against the government on Wednesday for failing to fully bring in recent EU rules on the ownership of trusts.

The rules date back as far as 2018.

According to the European Commission, Irish law does not guarantee the “adequacy and completeness” of ...