Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

Michael McGrath

April 3, 2023

INSIGHT: UAE’s ‘Falcon Economy’ at full tilt as Emirates complete third milestone of fincrime strategy; NRA to be launched in weeks

 Premium

NEWS: Sweeping AUSTRAC AML powers take effect, banks to be forced to give up documents

 Premium

NEWS: First US sanctions against key Viktor Orbán ally sparks outrage in Hungary

Michael is currently a TD for Cork South Central and is the Minister for Finance.

Michael grew up in the harbour town of Passage West in County Cork. Before entering national politics, Michael served in local government as a member of Passage West Town Council and Cork County Council (Carrigaline electoral area). He was elected to Dáil Éireann at the first attempt in 2007 and has been re-elected in every election since (2011, 2016 and 2020).

Michael secured a first-class honours Commerce degree in UCC and went on to qualify as a Chartered Accountant with KPMG in Cork City. Before going into politics full time, Michael held senior positions in both the private sector (Financial Controller, RedFM).

AML Intelligence
We hope you enjoyed reading this article

If you would like unlimited access to AML Intelligence premium articles, newsletter delivered twice a week, access to our Global Bank Fines and Penalties database, free access to Boardroom Series events and much more, select one of our subscription options and become a subscriber!

View subscription optionsIf you have an account, log in

INSIGHT: UAE’s ‘Falcon Economy’ at full tilt as Emirates complete third milestone of fincrime strategy; NRA to be launched in weeks

 Premium

NEWS: Sweeping AUSTRAC AML powers take effect, banks to be forced to give up documents

 Premium

NEWS: First US sanctions against key Viktor Orbán ally sparks outrage in Hungary

Regulatory Watch News

  • OFSI General Licence – INT/2022/1280876 amended.

    OFSI

    On 8 January 2025, General Licence INT/2022/1280876 was amended to add Permission 5.3A which states that no distributions on VTB Bank PJSC’s claim should be made without first deducting from the distributions the value of any VTB Capital plc assets which have been or are subject to VTB Bank PJSC enforcement action, and the VTB Group Receivables; and statutory interest should not be paid for any time over which distributions are not paid because of these deductions.

  • BaFin investigates website operators

    BaFin

    BaFin warns consumers about the website cortexfin.com. According to information available to BaFin, payment services are being offered via this website without the required authorisation.
    On the cortexfin.com website, the operators advertise a supposedly lucrative job offer as a financial agent. The job entails opening bank accounts in one's own name. The accounts are to be used to accept funds and forward them to third parties. The funds transferred to these accounts presumably come from persons who have been victims of criminal activities.

  • Marketers and Healthcare Providers in Texas, Virginia and South Carolina Agree to Pay Over $1.1M to Settle Laboratory Kickback Allegations

    US Department of Justice

    Two laboratory marketers — Shahram Naghshbandi, of Fort Worth, Texas, and John Bello, of Chesterfield, Virginia; three physicians — Dr. Abbesalom Ghermay, of Plano, Texas; Dr. Daniel Theesfeld, of Longview, Texas; and Dr. James Cook, of Richmond, Virginia; and medical practice owner Troy Belton, of Columbia, South Carolina, and associated entities, have agreed to pay a total of $1,137,914 to resolve False Claims Act allegations they took part in laboratory kickback schemes in violation of the Anti-Kickback Statute. The parties have agreed to cooperate with the Justice Department's investigations of, and litigation against, other participants in the alleged schemes.

Sign Up To Our Newsletter

Categories

Archived articles

Contact Us