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Cohort #1 of Central Bank of Ireland’s Innovation Sandbox Programme: ‘Combatting Financial Crime’9/1/2025  Seven participants of the Central Bank of Ireland’s Innovation Sandbox Programme on ‘Combatting Financial Crime’ are: 1) AMLYZE is building an AML/CFT information-sharing framework that will use structured taxonomies and synthetic data to simplify detecting and preventing fraudulent activities. 2) Expleo Group has developed an anti-SMS fraud solution which installs on mobile phones to combat SMS fraud. 3) Forward Emphasis and Pasabi’s joint innovation will develop and test a Motor Insurance Application Fraud Analytics solution, leveraging AI-driven behavioural analytics, machine learning, and pattern recognition to detect fraud in the pre-sales process. 4) Roseman Labs enables secure, GDPR-compliant collaboration and analysis on sensitive data for regulated industries. 5) Sedicii (hello Rob Leslie) and PTSB Sedicii has partnered with PTSB to create a secure and private collaboration using zero knowledge proofs to verify names and addresses, in real-time, as part of their customer KYC process, using ESB Networks as the authority for address data in Ireland in full compliance with GDPR and which involves no sharing of personal data. 6) TrustElevate.com offers a privacy-preserving solution for verifying parental responsibility and child age. 7) Vidos.Id is developing digital identity verification solutions to help financial institutions verify digital identity documents and wallet-based credentials. There are many familiar names here and a couple we hadn't encountered at www.moneylaundering.ie and www.fintechireland.com. Since this all very serious hashtag#regtech, we better dust off the www.regtechireland.com website! All the best to the cohort. First posted here Combatting Financial Crime Theme The theme of the Innovation Sandbox Programme is: “Combatting Financial Crime – Through the use of innovative technology, foster and develop innovative solutions that minimise fraud, enhance KYC/AML/CFT frameworks, and improve day-to-day transaction security for consumers.” The programme will encourage collaboration across the ecosystem to support the fight against financial crime. Programme outputs will include inter alia the documentation and sharing of learnings in fraud prevention and detection. The programme also aims to facilitate the development of new ventures and new business models that solve challenges identified in this sandbox theme and facilitate the faster and safer deployment of substantially new technologies, products, or services. The Sandbox Programme framework comprises:
What is the Challenge?
What are the Problem Statements?
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 Sharon Donnery joins the European Central Bank as its representative to the Supervisory Board.
Sharon joins the ECB from the Central Bank of Ireland, where she served as a Deputy Governor, leading a wide range of initiatives in financial regulation and monetary policy. With her extensive central banking and supervisory experience, including her role as Ireland’s representative to the Supervisory Board and a member of the European Systemic Risk Board’s General Board, Sharon brings invaluable insights and expertise to our work. See also:
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Linkedin Post:  Central Bank of Ireland Directors on the MoveThree weeks ago our Peter Oakes posted the news that Mary-Elizabeth McMunn (formerly Director of Banking, Payments and Credit Unions) at the Central Bank of Ireland was appointed, effective 1 January 2025, as Deputy Governor Financial Regulation at the Central Bank. This followed news that now former Deputy Governor, Sharon Donnery, had accepted appointment by the European Central Bank to be its representative of the Supervisory Board. Over the past few weeks various bits and pieces of news about other moves within the Central Bank executive team has dripped into the media. As at the start of January 2025 we now have official confirmation of those movements. These are:
* See below for details of changes to Directorates Changes to Central Bank of Ireland Directorates As part of its changes to its supervisory approach while keeping a risk-based supervisory model approach, the Central Bank of Ireland has adopted a new operating structure to include seven directorates, which will report into the existing Deputy Governors for Financial Regulation and Consumer and Investor Protection:
New look and feel of the Central Bank of Ireland's Financial Regulation and Consumer & Investor Protection Deputy Governor Functions In addition to the points raised above arising from the changes to the operating structure at the Central Bank of Ireland, it is worth noting/amplifying that:
Sources / Further reading:
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