Paschal Donohoe (Dublin Central, Fine Gael)
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We are about the same as other European countries. We all see the scale of this activity grow. Three different kinds of activity are taking place. First, we are strengthening the legislative framework for dealing with these issues. This is happening EU-wide because this criminal activity does not know any borders. We are involved in implementing change in that area. Second, when I and my officials engage directly with the banks, the issue of IT investment in stability and security of banking systems is always discussed. Finally, this is a matter of focus for the Central Bank, one which it assesses and monitors regularly. Those are the three different areas of focus in relation to it.

I do not have recommendations to myself as Minister for Finance from the Garda or any other State body making the case for further legislative change beyond what I am doing. I met with the unit in my Department that deals with issues relating to money laundering a number of weeks ago to get an update on its work and on what more I can do.