I propose to take Questions Nos. 182 and 183 together.
I am advised that designated bodies are required to submit a Suspicious Transaction Report (STR) to the Revenue Commissioners and An Garda S?ochána where they have a suspicion that a money laundering offence may have been committed. Tax evasion is a predicate offence for money laundering. In cases where the STR relates to other criminal activity it becomes a matter for An Garda S?ochána.
I am advised by Revenue that the number of STRs received from designated bodies, including financial institutions, under the Criminal Justice (Money Laundering and Terrorist Funding) Act, 2010 for 2009 to 2018 is as set out in the following table.
Year
|
STRs Received
|
2009
|
14,117
|
2010
|
13,395
|
2011
|
11,070
|
2012
|
12,175
|
2013
|
14,688
|
2014
|
18,149
|
2015
|
21,358
|
2016
|
22,607
|
2017
|
24,232
|
2018
|
23,422
|
I am advised by Revenue that as regards the institutions that submit STRs, they do not have information identifying the county or regional location of such institutions and therefore cannot provide the breakdown of STRs sought by the Deputy.
I understand that Revenue continues to engage actively with designated bodies at conferences and industry fora to communicate best practice for Money Laundering Reporting Officers (MLRO) regarding the submission of quality STRs, and to emphasise the importance of STR reports to Revenue’s ongoing compliance programmes. Such speaking events are often undertaken in conjunction with the Garda National Economic Crime Bureau’s Financial Intelligence Unit (FIU), which handles STRs on behalf of An Garda Síochána.
On receipt by Revenue, all STRs are linked to the relevant taxpayer’s record, assigned a risk rating, and the data is incorporated into each taxpayer’s risk profile, informing Revenue’s decision as to the nature of any compliance intervention that may be appropriate having regards to the overall risk. In 2017, the yield from audit cases involving STRs was €5.5 million. The figures for 2018 will be available in May of this year.
I am advised that it is not possible to quantify the number of cases that lead to a prosecution, as the information received in an STR forms, as previously indicated, form only part of the overall risk profile for an individual taxpayer, and may, or may not, contribute to a decision to refer a taxpayer for prosecution.
Finally, I do not consider that there is a link that can be usefully made between the level of STRs reported to Revenue and the need for vigilance by members of the public to protect themselves against the effort of fraudsters to get access to their money. However, I am aware that Revenue regularly highlights the importance of taxpayers taking appropriate steps to safeguard their personal financial or banking details and has emphasised that Revenue will never seek to acquire those details through telephone contacts with taxpayers.