Ireland is stepping up its international response to financial crime, with Minister of State Frank Feighan announcing a major contribution to a new IMF fund targeting money laundering, terrorist financing, corruption and illicit finance.
The announcement was made at the IMF and World Bank 2026 Annual Meetings in Bangkok. Ireland’s financial crime contribution will support countries working to strengthen their legal, regulatory and institutional defences, helping protect the global financial system and Ireland’s own economy.
Ireland financial crime contribution to support IMF initiative
Ireland will contribute US$3 million over six years, from 2026 to 2031, to the IMF’s Anti-Money Laundering and Anti-Corruption Thematic Fund, known as AMLAC. Ireland has also committed an initial US$500,000 in 2026 to the final phase of its predecessor fund.
The new trust fund is scheduled to begin operations in 2027. It will provide technical assistance and capacity building to IMF member countries, particularly jurisdictions seeking to improve their ability to prevent, identify, investigate and disrupt financial crime.
What the IMF fund will support
- Stronger legal, regulatory and supervisory frameworks to combat money laundering and terrorist financing.
- Improved capacity for authorities assessing and responding to financial crime risks.
- More effective institutions and international cooperation against illicit finance.
Why financial crime cooperation matters to Ireland
Ireland has a significant internationally focused financial services sector and depends on confidence, transparency and robust international standards. Minister Feighan said criminals and fraudsters seek weaknesses in the global system, making international cooperation essential.
Strengthening weaker jurisdictions can make it harder for criminal networks to move illicit funds across borders. It can also support Irish consumers, businesses and communities by reducing risks that financial crime creates for legitimate economic activity.
The initiative complements Ireland’s first National Anti-Money Laundering, Countering Financing of Terrorism and Countering Proliferation Financing Strategy. The strategy, launched by Tánaiste and Minister for Finance Simon Harris on 13 August, sets out a national plan to strengthen the State’s response to financial crime.
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Ireland’s role in global financial services
The Department of Finance says Ireland is the world’s sixth-largest exporter of financial services and the European Union’s third-largest exporter. Maintaining a rules-based and trusted international system is therefore closely linked to Ireland’s economic interests and financial services ambitions.
The IMF’s wider anti-money laundering and counter-terrorist financing work includes surveillance, lending activity and technical assistance delivered through bilateral, regional and thematic programmes. Ireland’s contribution is intended to help build lasting expertise and stronger safeguards in participating countries.
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What happens next?
The AMLAC fund will begin operating in 2027, with Ireland’s annual contributions continuing through 2031. Its work will focus on practical support for countries seeking stronger enforcement systems, better supervision and improved cross-border cooperation.
For Ireland, the announcement links domestic anti-money laundering priorities with wider international efforts. The central takeaway is clear: Ireland financial crime action is being pursued not only through national policy, but also by helping strengthen the systems on which global financial stability depends.
Article/Image Courtesy: gov.ie
