Mr. Niall Cody:

One of the biggest changes in recent years relates to the introduction of suspicious transaction reports. This brings me back to anti-money laundering procedures and the necessity for banks to know their customers. Irish banks, other financial institutions and professionals are legally obliged to make reports in respect of what they perceive to be suspicious transactions. If someone comes in with a bundle of cash and if he or she does not fit into the profile, then the bank, other financial institution or professional involved is obliged to inform us and the Garda. We receive thousands of reports from financial institutions.