Tommy is a career Central Banker with over 30-years’ experience across a number roles, including Chief Dealer for the Central Bank’s investment portfolio and numerous leadership roles in prudential supervision. The prudential roles included front line supervision of both domestic and international banks, leadership of supervision of international banks and the creation and leadership of the Inspections Division post the establishment of the Single Supervisory Mechanism. Tommy took up his current role of Head of the Central Bank’s Anti-Money Laundering Division in March 2019. Since then, amongst others he has led the team in its ongoing AML/CFT supervision, the issuance of AML/CFT industry guidance, input to the ongoing discussions on the EU Action Plan, preparation for the supervision of Virtual Asset Service Providers and most recently the administration of financial sanctions. Across all his roles, Tommy has represented the Bank on numerous national and international fora and is currently a member of Ireland’s FATF delegation team. Tommy holds a Bachelor of Commerce (Financial Services) undergraduate degree and two Masters in Business Studies (Finance and Business Practices). Additionally, Tommy is a qualified Executive Coach.
Regulatory Watch News
Setting up the new EU Anti-Money Laundering Authority for success
Central Bank of Ireland
Speaking at the European Anti-Financial Crime Summit today, Deputy Governor of the Central Bank of Ireland Derville Rowland said: “The commitment of European leaders to introduce a single rulebook for Anti-Money Laundering (AML) and the creation of a new European AML supervisory and financial intelligence coordination authority is truly historic, and we are at an inflection point in the journey of financial crime prevention.
NCA secures first Unexplained Wealth Order in Northern Ireland
National Crime Agency
The National Crime Agency (NCA) has secured the first Unexplained Wealth Order in Northern Ireland against a man suspected of involvement in serious organised crime. The Order compels the man and his wife to explain the source of funds used to construct a property in County Armagh worth approximately £275,000. It was obtained at the High Court in Belfast on Friday (17 May) as part of an ongoing NCA civil recovery investigation.
Financial sanctions update: DPRK, Russia, DRC, ISIL (Da’esh) and Al-Qaida & Burundi
OFSI
On 17 May 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. The following entries have been added to the Democratic People’s Republic of Korea financial sanctions regime and are now subject to an asset freeze:
- Aleksey Mikhailovich Vorotnikov (Group ID: 16499)
- Paekyangsan Shipping Co Ltd (Group ID: 16495)
- Toplivo Bunkering Company (Group ID: 16496)
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