Tom Fleming (Kerry South, Independent)
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231. To ask the Minister for Finance if he will provide an update on parliamentary questions and follow-up correspondence (details supplied) regarding money laundering; and if he will make a statement on the matter. [25799/15]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy previously asked if I would review the requirement that gift purchases of prize bonds for as little as €25 be subject to the obligation to provide evidence of identity. Following consideration by Officials from both my Department and the NTMA I am pleased to inform you that it was agreed that, in certain circumstances, there is no longer an obligation to provide evidence of identity.

For small value purchases of prize bonds as gifts, where the purchase value does not exceed €100, there is no obligation on the purchaser or the gift recipient to provide any evidence of identity at the time of purchase. For gift purchases of Prize Bonds with a value above €100 there is still an obligation to provide evidence of identity at the time of purchase.

If an individual's cumulative holding of prize bonds exceeds €1,000 or will exceed €1,000 as a result of a new application to purchase prize bonds, there is still an obligation on that individual to provide evidence of identity before the prize bonds can be issued.

Where an individual is making a first time purchase of Prize Bonds for themselves, they are obliged to provide evidence of identity, but will not be routinely asked for evidence again, on the occasion of a repeat purchase, so long as the existing evidence remains valid.