Government representatives are meeting with members of the European Parliament this week to promote Ireland's bid to become the location of the European Union's first Anti-Money Laundering Authority (AMLA).
A total of nine member states are vying to become the host country.
It is expected that between 400 to 700 jobs could be created within the agency, which will supervise entities in the financial services and non-financial sector.
Both the European Parliament and European Council, comprising member states, will decide the successful country.
Minister of State with responsibility for Financial Services Jennifer Carrol MacNeill will meet with MEPs in Strasbourg to promote Ireland's bid.
"We want to host it because we know we have the skilled people to staff an institution of potentially 400 and potentially 700 jobs for Dublin.
"We want to host it because we are at the centre of Europe and we want that to be shown", she said.
The role of the agency is to improve the detection of suspicious financial transactions and close loopholes used by criminals to launder illicit proceeds of finance terrorist activities.
It is hoped that a decision can be reached in the coming months, before the European elections in June, which could significantly prolong the process.
Formal European Parliament hearings are scheduled to take place on 30 January, which will also be attended by Minister for Finance Michael McGrath.
