- Ireland to contribute to new IMF Trust Fund supporting countries to combat money laundering, terrorist financing, corruption and other forms of illicit finance
- Initiative will strengthen financial systems internationally and reduce opportunities for criminals to exploit weaker jurisdictions
- Minister Feighan: “By helping jurisdictions build stronger defences against illicit finance, we strengthen the resilience of the entire international financial system, including Ireland’s own.”
Minister of State Frank Feighan has announced Ireland’s contribution to a new International Monetary Fund (IMF) Trust Fund that will support countries in strengthening their ability to combat money laundering, terrorist financing, corruption and other forms of illicit finance.
This fund which commences operations in 2027 will provide technical assistance and capacity building to help jurisdictions prevent, detect and disrupt financial crime. By strengthening resilience across the international financial system, this initiative will help reduce opportunities for criminals to exploit weaker jurisdictions and move illicit funds across borders. This builds upon an earlier fund which Ireland joined earlier this year.
Minister of State Frank Feighan TD, representing Ireland at the IMF and World Bank 2026 Annual Meetings in Bangkok, announced Ireland’s contribution to the new Fund.
The new IMF trust fund will support countries to strengthen their frameworks and capabilities to tackle financial crime, including by:
- Strengthening legal, regulatory and supervisory frameworks for combating money laundering and terrorist financing;
- Building the capacity of authorities to identify, investigate and respond to financial crime risks; and
- Supporting stronger institutions and international cooperation to prevent illicit finance.
Minister Feighan said:
“As a country with a significant internationally focused financial services sector, Ireland benefits enormously from a stable, transparent and rules based international financial system. Our economy and financial services exports are underpinned by trust, integrity and effective international standards.
“Criminals and fraudsters actively seek out weak points in the global system. By helping jurisdictions build stronger defences against illicit finance, we strengthen the resilience of the entire international financial system, including Ireland’s domestic system.
“Financial crime is increasingly global in nature. Supporting countries to strengthen their capabilities makes it harder for criminal networks to operate and in turn ultimately helps protect Irish consumers, businesses and communities.
“This partnership with the IMF is a strong fit for Ireland as it dovetails with our own anti-money laundering strategy but also helps underpin our ambitions to grow our international financial services sector”.
