Lexology: Central Bank of Ireland fines Swilly Mulroy Credit Union over £36K for AML and risk management breaches

The Central Bank of Ireland has fined Swilly Mulroy Credit Union (SMCU) €36,273 for serious and sustained anti-money laundering (AML) and risk management breaches spanning over seven years. The enforcement, announced on July 1, stems from an on-site inspection in 2022 and relates to SMCU’s operation of a high-risk cash lodgement service between 2014 and 2021…