CBI Anti-Money Laundering/Countering the Financing of Terrorism Guidelines

The Central Bank of Ireland has published an update to their Anti-Money Laundering/Countering the Financing of Terrorism Guidelines. The Guidelines have been amended to reflect changes made to Irish law by the EU’s Fifth Anti-Money Laundering Directive. They have also updated their guidance on internal governance requirements, de-risking and data protection.

The purpose of the Guidelines is to assist  credit and financial institutions in understanding their AML/CFT obligations under Part 4 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. The Guidelines set out the expectations of the Central Bank of Ireland regarding the factors that Firms should take into account when identifying, assessing and managing ML/TF risks.