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Many financial institutions in Ireland lack sufficient awareness of their vulnerabilities to cross-border money laundering and terrorist financing and maintain inadequate controls to screen for high-risk customers and transactions, an intergovernmental group claims. In a 218-page report published last week, the Financial Action Task Force ranked Ireland "compliant" or "largely compliant" with 26 of its 40 technical standards that measure efforts to combat money laundering and terrorist financing and said the nation substantially or moderately achieved all 11 benchmarks for related rules and supervision. While financial institutions showed a "reasonably good understanding" of their risk exposure to money laundering and...