Money Laundering

Two pieces of legislation giving effect to EU directives on money laundering and white collar crime have cleared the Oireachtas. The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill will strengthen existing anti-money laundering legislation and will give effect to provisi

Two major pieces of legislation on money laundering and white collar crime have been passed by the Oireachtas and will soon come into effect. The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill strengthens existing anti-money laundering legislation and will give effect t

Cabinet has approved a bill to transpose the criminal justice elements of the Fifth EU Money Laundering Directive and strengthen existing legislation. Justice Minister Helen McEntee, announcing the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2020, said: "I look forwa

Ireland has been ordered to pay €2 million to the European Commission for delays in implementing the Fourth Anti-Money Laundering Directive into national law in full. EU member states were required to implement the 2015 directive into national law by 26 June 2017 and the Commission took action

Seven people have been arrested following the largest money laundering search and arrest operation in Northern Ireland's history. Officers from the PSNI's economic crime unit searched 15 properties across Northern Ireland in an operation targeting the international money laundering of criminal asset

Stricter new anti-money laundering (AML) regulations have come into force across the UK with effect from today. The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 update the UK's AML regime to incorporate international standards set by the Financial Action Task Force (FATF) an

Companies and industrial and provident societies (I&Ps) can file their beneficial ownership information in the new central register with effect from today. The Registrar of Beneficial Ownership (RBO) was set up under secondary legislation earlier this year to meet Ireland's obligations under EU

A firm has been fined €280,000 in the first enforcement action taken against a stockbroker for breaches of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. Stockbroker Campbell O'Connor & Company has admitted five breaches between July 2010 and November 2016 relatin

Hundreds of Irish students could face jail for acting as "money mules" for fraudsters, a senior garda has warned. Detective Chief Superintendent Patrick Lordan told the Irish Independent that as many as "several hundred students" could be involved in a "spider's web" of fraudulent activity.

New legislation to transpose many provisions of the Fifth EU Money Laundering Directive into Irish law has been approved by the Cabinet. It comes just two months after legislation transposing the Fourth EU Money Laundering Directive into Irish law was brought into effect.