Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2020

Public bill · Government · Presented

Updates Ireland’s anti-money-laundering rules to match newer EU standards and close gaps that criminals or terrorists could exploit. It brings more people and businesses into the checks, including some letting agents, virtual currency providers and high-value art dealers, lowers the limit for prepaid cards before extra checks are needed, blocks anonymous safe-deposit boxes, and tightens checks on customers in risky countries or politically exposed people. It also improves oversight, reporting and appeals processes so the system is harder to abuse and easier to enforce.

Formal long title

Bill entitled an Act to amend the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 to give effect to Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU; and to provide for related matters.

Last updated 25 March 2021