Definition
A Suspicious Transaction Report (STR) is the formal report a firm files when it knows, suspects or has reasonable grounds to suspect that funds or activity are connected to money laundering or terrorist financing. In Ireland, STRs are dual-reported: to FIU Ireland via the goAML portal and to the Revenue Commissioners via ROS.
What it is
A Suspicious Transaction Report (STR) is the formal disclosure a regulated firm makes when it knows, suspects or has reasonable grounds to suspect that funds or a transaction are connected to money laundering or terrorist financing. It is the mechanism that turns a firm's internal unease — an escalation from staff to the MLRO, and the MLRO's documented decision — into intelligence for the authorities. Suspicion is the trigger, not size: there is no monetary threshold below which a suspicious matter goes unreported.
Why it matters for Irish firms
Ireland has a distinctive feature: STRs are dual-reported. A designated person files to FIU Ireland (An Garda Síochána) via the goAML portal, and separately to the Revenue Commissioners via ROS — Revenue accepts an XML upload, and the goAML-generated XML is accepted for this purpose. Firms and MLROs must be registered on both systems before a report is ever needed, so registration belongs on the onboarding checklist, not the crisis checklist. Note also what Ireland does not have: there is no AUSTRAC-style threshold transaction report (TTR) regime — reporting is driven by suspicion, not by transactions crossing a set amount. The firm's file should evidence the whole chain: the internal escalation, the MLRO's assessment, the decision to report or not, and both submission acknowledgements where a report is made.
What changes under the AMLR
From 10 July 2027, Regulation (EU) 2024/1624 (AMLR) supplies the directly applicable reporting framework for obliged entities across the EU, sitting alongside the national FIU machinery reshaped by Directive (EU) 2024/1640. One concrete new discipline: requests from the FIU must be answered within 5 working days, with shorter deadlines for some categories — which means client records need to be organised for fast retrieval, not reconstructed under pressure.
Where CompliDesk fits
CompliDesk Ireland prepares the STR record, exports goAML-compatible XML for the firm to upload to both goAML and ROS, and tracks both submissions — book a demo to see the dual-reporting workflow.
General information, not legal advice. This definition provides general information about EU and Irish anti-money-laundering requirements. Regulatory detail is still evolving through 2026–27 — verify against primary sources (EUR-Lex, AMLA, and your sector’s Irish supervisor) and seek qualified advice before acting.