About Us

MLRO Ireland specialise in AML regulatory affairs for the Irish financial services sector, handling all types of regulated entities including Funds, Fund Service Providers, Banks, Investment firms, Insurance Undertakings and Credit Unions. We are a multi-disciplinary management consultancy practice and we take a rounded approach to your business. As qualified professionals by training we analyse the money laundering regulations affecting your entity. As people with extensive business experience (we act as non-executive directors to a number of financial companies as well as outsourced MLRO’s and Outsourced Compliance and Risk specialists) we help you understand the impact of money laundering regulations and how to implement them in your Business. We offer unparalleled expertise and practical, workable solutions that can actually be implemented.

When an AML documentation issue or similar issue has been identified, we can assist you in quantifying the extent of the problem, advise on the implications of the issue and the most efficient way to ensure that the issue is addressed.

Call us for a confidential discussion on +353 (0)1 425 5962 to see what we can do for you.

We can:

  • Advise on your financial crime obligations
  • Provide practical policies and procedures
  • Provide a discrete remedial action (i.e. clean up) review
  • Provide MLRO services
  • Provide AML Training to Directors and Staff
  • Provide AML Regulatory updates and outline how they impact your business

Management

We have a team of compliance experts and support staff available to assist you, led by Joseph Shannon, CEO.

Joseph Shannon

CEO

Joseph Shannon was promoted to CEO of Compliance Ireland in September 2015. He is also Head Regulatory Trainer and Regulatory Consultant.

Joseph Shannon is a Barrister and holds an LLM in International Criminal law with specific emphasis in Terrorist Financing from National University of Ireland Galway.

Before joining Compliance Ireland in 2011, Joseph was managing director of an Employment Law and Human Resource management Training practice. From this, Joseph has extensive experience in all areas of Employee Relations, Industrial Relations, employee policies and procedures, disciplinary and grievance procedures and dealing with bullying, harassment and sexual harassment in the workplace.

Through his work with Compliance Ireland, Joseph has gained further expertise in Training and providing advice on the Consumer Protection Code, Minimum Competency Code, Ethics, Fit and Proper Regime, all areas of Corporate Governance as well as Anti-Money Laundering and Data Protection requirements for firms. He has advised firms on Enforcement proceedings as well as providing guidance to entities on PRISM. Joseph also has considerable experience in the authorisation process for MiFID firms, Insurance Undertakings, Insurance Intermediaries, FX Brokerages and Payment Service Institutions.

Joseph has also spoken extensively at industry conferences and has lectured for a number of professional bodies. As well as the above, Joseph’s specific MLRO experience is as follows:

  • Acts as MLRO for a number of Funds (including ICAVs and Platforms) domiciled in Ireland
  • Pre-Approved by the Central Bank as PCF 15 – Head of Compliance with responsibility for implementing AML Legislation for an Alternative Investment Fund Management Company and UCITS Management Company
  • Provide consultancy to firms in all sectors including Funds and Fund service providers and Funds in constructing AML/CFT Risk Assessments for Funds domiciled in Ireland, the EEA and Cayman
  • Undertake AML specific reviews for regulated entities and report directly to Boards on remediation requirements
  • Provide annual AML/CFT specific training for Directors to 25 funds domiciled in Ireland, Luxembourg and Cayman
  • Regular author of AML specific articles
  • Author and trainer of AML courses including 1 hour, 2 hour, 4 hour and full day that are provided both publicly and in-house basis
  • Advised clients on suspicious activity and transactions and conducted investigations into same
  • Liaised with FIU on AML issues
  • Sole presenter on AML in practice seminars (4 hours) in 2013,2014 and 2015, 2016, 2017, 2018 which were attended by circa 1500 attendees
  • Joint presenter with Ex head of Scotland Yard’s Financial Intelligence Unit, Head of Financial Intelligence Unit as well as Directors of Enforcement of the Central Bank of Ireland  on AML Issues

What our clients say about us

“I have been using MLRO Ireland since 2013. The team are sensitive, knowledgeable, professional and discreet. They conducted a successful post-rectification review for us when at the request of the Central Bank. I’d recommend their MLRO services to any Fund or Cash business.”

Mark Brosnan, Securewise

"We use MLRO Ireland as our outsourced MLRO service. They are the leading experts in their field and explain our obligations in a way that we understand. We are not AML experts, but they are. Their training is also relevant to our role as Directors. Afterwards we are confident that we understand our responsibilities."

Independent Director UCITS Fund

"MLRO Ireland and indeed Compliance Ireland have been providing AML services to us that we can trust. Their seminars are both practical and informative. Their guidance on our AML obligations and assistance with an AML inspection was invaluable."

Head of Compliance, Fund Adminstrator

"We decided to use MLRO Ireland as we needed to be sure we were complying with our AML obligations. We needed guidance on how best to be compliant but also to do so in a practical way. We had a checklist but we needed it implemented. To get all of the AML services including training from one company was just what we needed."

Chairman, AIF

How we can help you?

We act as an MLRO for a number of UCITS Funds as well as Alternative Investment Funds. The MLRO Service we provide includes:

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