Irish law and guidance

The Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (see Money Laundering page) came into force on 5 May 2010. The 2010 Act implemented the 3rd Directive (2005/60/EC) (see Money Laundering page) into Irish Law.

This Directive gave effect to certain recommendations from the international body, the Financial Action Task Force (FATF). FATF published a revised set of recommendations in February 2012 following a review of this Directive by the European Commission.

The Criminal Justice Act 2013 (see Money Laundering page) is designed to implement these further recommendations from FATF. Part 2 of the Criminal Justice Act 2013 sets out the amendments to the 2010 Act and most of these become effective from 14 June 2013.

Chartered Accountants Ireland, in conjunction with other CCAB-I bodies, has issued M42 (revised) Anti-Money Laundering Guidance - Republic of Ireland effective 23 September 2010.

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