Joint Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach to discuss ‘dark money’ flowing through Irish financial sector

The Joint Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach will meet tomorrow, Wednesday, 22 April, to discuss 'dark money' flowing through the Irish financial sector with representatives from Transparency International Ireland.

The meeting at 3:30pm in Committee Room 3 of Leinster House will hear from the organisation's Chief Executive, Mr John Devitt, and Head of Policy and Research, Dr Alexander Chance.

Committee Cathaoirleach Deputy Mairéad Farrell said: "The term 'dark money' is used to describe the proceeds of corruption and other illicit activities, including but not limited to organised crime, fraud, sanctions evasion, tax evasion and hostile state activity. Particular concern has been expressed about 'dark money' flowing through Ireland's financial services sector and the need for more regulation in that area.

"Another area of concern about the use of dark money is with attempts to influence elections and public policy by local and external actors, including by states and non-state groups, especially on social media. We have seen evidence of this in the last decade in elections across the European Union, the Brexit referendum in Britain and in elections in the United States.

"The Committee welcomes this engagement with Transparency International Ireland and looks forward to hearing from Mr Devitt and Dr Chance with regard to the size of Ireland's dark money problem, its impact on our reputation and financial and national security, and the policy and regulatory responses needed to stem the flow of dark money through the Irish financial services sector."

The Joint Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach has 14 Members, nine from the Dáil and five from the Seanad.

The meeting in Committee Room 3 can be viewed live on Oireachtas TV.

Committee proceedings can also be viewed on the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.