Recent reporting from Investigate Europe has exposed yet another scandal centred in Ireland’s financial system, according to Social Democrats finance spokesperson Cian O’Callaghan.
Deputy O’Callaghan said:
“A major Irish licensed gambling operator, Soft2Bet, has been linked to a sprawling black market gambling empire operating across the globe.
“Irish licences were instrumental in giving legitimacy to an operation that facilitated illegal gambling, exploited vulnerable people, and enabled large scale financial misconduct.
“This is not an isolated failure. It is part of a pattern that has led Ireland to becoming a financial Wild West for criminals, corrupt dictators, and scammers.
“Transparency International Ireland has consistently highlighted the billions of euros in dark money that is flowing through the Irish financial services sector.
“This includes dictators using the IFSC to wash money stolen from their own people. A recent High Court case also heard how investors were cheated out of €4 million through another Irish based financial scam.
“In this case, the Canadian/Israeli scammers used Ireland’s lax regulations to create an opaque company structure to hide their criminal activity. The Government cannot continue to look the other way.
“The Coalition must properly fund the financial intelligence unit and the Garda National Economic Crime Bureau.
“These essential investigative and enforcement bodies have had their hands tied for years by chronic under-resourcing.
“Ireland is facing a serious risk of reputational damage, and the Government cannot continue to bury its head in the sand.”
July 8th, 2026