Ms Derville Rowland:

On the matter of money laundering and the proceeds from crime, we have very specific responsibilities, of which I am sure the committee is aware, in large part for the regulated financial service providers to ensure they have effective systems of control in place to make sure the financial system is strong and cannot be used as the weak point for the proceeds of laundering money from crime. We also play a very important part in the national framework. We are part of the anti-money laundering, AML, steering committee chaired by the Department of Finance where we work with the national framework to participate in the national risk assessment in money laundering and where the integrity of the State's response to money laundering is solidified and comes together. We work with An Garda Síochána, the Department of Justice and Equality, the Central Bank and all the relevant agencies. The responsibilities at national level lie slightly elsewhere, but we are a contributor to the dialogue on making sure we play our part in contributing to a strong money laundering framework in this jurisdiction.

We have strengthened it significantly over time but every country needs to be very vigilant and needs to continue to make efforts at national level to co-ordinate well and to make sure we continue to strengthen the system.