Financial Crime World

White-Collar Crime in Ireland: Key Developments and Considerations

Introduction

White-collar crime in Ireland has become increasingly complex, posing significant challenges for businesses and individuals. This article provides an overview of key developments and considerations in this area, including corporate fraud, anti-competitive behavior, corruption/bribery offenses, money laundering/terrorist financing and sanctions.

Corporate Fraud

  • The Criminal Justice (Theft and Fraud Offences) Act, 2001 is the primary source of legislative provisions governing corporate fraud issues in Ireland.
  • The Corporate Enforcement Agency (CEA) has the power to carry out dawn raids on business premises to gather evidence and information relevant to an investigation.

Anti-Competitive Behavior

  • The Competition Act 2020 is the primary statutory framework governing compliance with competition law in Ireland.

Corruption/Bribery Offenses

  • The Criminal Justice (Corruption Offences) Act 2018 introduced wide-ranging reforms to Irish anti-corruption laws, including a new corporate liability offence.
  • There is a growing trend towards individual accountability in corporate crime cases, with directors of Irish companies facing increased scrutiny.

Money Laundering/Terrorist Financing and Sanctions

  • The Fifth Anti-Money Laundering Directive (MLD5) was transposed into Irish legislation by the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act, 2021.
  • Ireland is considering introducing Deferred Prosecution Agreements (DPAs), subject to certain conditions.

Conclusion

White-collar crime in Ireland is becoming increasingly complex and challenging for businesses and individuals alike. With the increasing activity from the CEA and the potential introduction of DPAs, it is essential for companies and their directors to ensure they are complying with all relevant laws and regulations.

Contact Us

If you need more information or legal advice on this topic, please contact a member of our team via their contact details below.

  • [Name], Partner and Head of Dispute Resolution
    • Email: [Email]
    • Phone: [Phone Number]
  • [Name 2], Associate Solicitor
    • Email: [Email]
    • Phone: [Phone Number]
  • [Name 3], Senior Solicitor
    • Email: [Email]
    • Phone: [Phone Number]

This article is for general information purposes only and does not constitute legal advice. Please do contact a member of our team to discuss your specific situation in more detail.

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