The Central Bank has blocked a Co Wicklow insurance intermediary from operating for a two-year period following the discovery of financial irregularities.
The bank has issued a prohibition notice which prevents Colette Murphy of Hunter's Moon, Knockfadda, Roundwood, Co Wicklow from performing functions as a sole trader and as an insurance intermediary.
The bank said Ms Murphy participated in serious misconduct.
In a statement the Central Bank said: "Ms Murphy diverted client funds which were due to be refunded to a client for her own benefit, in circumstances where she was aware or ought to have been aware that what she was doing was wrong."
It said Ms Murphy's management and documentation of a petty cash box was not in accordance with good operational controls and good accounting practice.
The bank said Ms Murphy failed to meet "fitness and probity" standards.
Ms Murphy has agreed to comply in full with the terms of the prohibition notice.
