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Financial Intelligence Unit & Money Laundering Investigation Unit

Financial Intelligence Unit (FIU) & Money Laundering Investigation Unit (MLIU)

The Financial Intelligence Unit (FIU) is embedded within the Garda National Economic Crime Bureau (GNECB – formerly GBFI), and is a national reception point for Suspicious Transaction Reports (STR) submitted under Irish Money Laundering legislation by all the financial institutions and other designated bodies/persons, namely accountants, solicitors, dealers in high value goods, auctioneers, etc.  The FIU is supported by the Money Laundering Investigation Unit (MLIU).

Functions of FIU

• Receipt, analysis and dissemination for investigation of STRs to relevant Garda units.

• The FIU analyses and disseminates STRs and intelligence gained, to other national units within An Garda Síochána and Gardaí throughout the country for investigation and potential further action.

• Designated bodies/persons are required to report STRs to both the FIU and the Office of the Revenue Commissioners.

• The FIU analyses STRs which have potential domestic or international terrorist financing links.

• The FIU actively cooperates with law enforcement agencies in other jurisdictions in matters relating to suspected money laundering and terrorist financing.

• The FIU provides training to members of An Garda Síochána throughout the country to create awareness of the value of financial intelligence in the fight against money laundering, terrorist financing and all criminality.

• The FIU is the central reception point for the receipt of reports of suspicions of Money Laundering and/or Terrorist Financing from competent authorities / supervisory bodies. (Section 63 of the Criminal Justice [Money Laundering & Terrorist Financing] Act 2010)

MLIU – Money Laundering Investigation Unit

• The Money Laundering Investigation Unit, or ‘MLIU’, supports the FIU within GNECB and it investigates complex money laundering cases and/or cases which have cross-jurisdictional links.

• It extracts information from the analysis of STRs allowing for the instigation of criminal investigations.

• Suspected terrorist financing can also be investigated by the MLIU.

• The MLIU also provides advice and assistance to other members of An Garda Síochána who are investigating cases of suspected complex Money Laundering and/or suspected terrorist financing.