Written answers

Thursday, 24 November 2016

Department of Justice and Equality

Gambling Sector

Photo of Jim O'CallaghanJim O'Callaghan (Dublin Bay South, Fianna Fail)
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52. To ask the Minister for Justice and Equality the steps her Department has taken under the EU anti-money laundering directive relating to gambling service providers; the timeframe for the actions; and if she will make a statement on the matter. [36781/16]

Photo of Frances FitzgeraldFrances Fitzgerald (Dublin Mid West, Fine Gael)
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Work is ongoing in my Department on the necessary legislative amendments that are required to transpose the 4th EU Directive concerning Money Laundering and Terrorist Financing. In line with developments at international level, this Directive represents a further strengthening of the risk based approach to countering these activities and, as such, an assessment of the risks in the gambling sector must necessarily be undertaken before any final determination is made in relation to what legislative or other measures will be required in regard to this sector.

Ireland's first Money Laundering and Terrorist Financing National Risk Assessment (NRA) was published in October of this year on the website of the Department of Finance and the website of the Department of Justice and Equality. In line with Ireland's obligations under the Financial Action Task Force (FATF) standards and the requirements of the 4th Directive the purpose of the NRA is to identify, understand and assess the money laundering and terrorist financing risks faced by Ireland.

The NRA gave initial consideration to the gambling sector but determined that, due to its complexity, a separate in-depth risk assessment exercise would be required. This assessment, which is on-going with the gambling sector, is being carried out by a sub-group of the Anti-Money Laundering Steering Committee (AMLSC) which is chaired by the Department of Finance. The assessment, which will be completed in the coming months, will be considered by the AMLSC in terms of the transposition of the Directive. The time frame for the transposition of this Directive is June 2017.

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