Anti-Money laundering


The current emergency situations in Ireland and the UK undoubtedly give rise to heightened risks and challenges to Institute firms and their compliance with their anti-money laundering (AML) obligations in both jurisdictions. Our colleagues in ICAEW have prepared useful information and guidance on the implications of the COVID-19 situation and AML issues.  While this material is written in a UK context, the guidance it sets out is also relevant to Ireland.  The ICAEW information can be accessed here.  

Completion of Client Due Diligence (CDD) during urgent work

Chartered Accountants Ireland, in conjunction with CCAB, has published Covid-19 Supplementary AML Guidance – Click on the following link to access - Completion of Client Due Diligence (CDD) during urgent work (Regulation 30 of Money Laundering Regulations 2017).

Accountancy Affinity Group (AAG) – Advisory Note  

COVID-19 –and preventing Money Laundering/Terrorist Financing in Accountancy Practices

Chartered Accountants Ireland, as a member of the Accountants Affinity Group (AAG) has issued guidance on AML responsibilities during the Covid-19 crisis. This Guidance looks at controls, policy and procedural issues, as well as new risks as a result of Covid-19. The AAG is comprised of the AML supervisors within the accountancy sector in the UK. However this Guidance was drafted in conjunction with the legal sector.

This section of the website provides guidance to assist members and firms to comply with the Criminal Justice (Money Laundering & Terrorist Financing) Act 2010 (Ireland) as amended by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (UK) as amended by The Money Laundering and Terrorist Financing (Amendment) Regulations 2019.

Chartered Accountants Ireland is a listed competent authority and supervisory authority under Irish and UK AML Legislation respectively.

Chartered Accountants Ireland is required to supervise members and other entities for compliance with the relevant legislation and may in certain circumstances be required to report matters to the An Garda Síochána, the Revenue Commissioners or the National Crime Agency.

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