Organisation information
Anti-Money Laundering Compliance Unit
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Published on
Last updated on
The Criminal Justice (Money Laundering and Terrorist Financing) 2010 as amended sets out Ireland’s anti-money laundering and counter terrorist financing framework.
The legislation ensures Ireland’s compliance with EU anti-money laundering/counter terrorist financing obligations under various Directives and ensures Ireland’s complies with FATF obligations.
The Act establishes the Minister for Justice as a State Competent Authority for the purposes of securing compliance by certain categories of ‘designated persons’ with statutory requirements to prevent money laundering and terrorist financing.
Under s.108 of the Act the Minister has delegated the competent authority function to officials in the Anti-Money Laundering Compliance Unit (AMLCU) of the department.
The AMLCU supervises the following categories of business for compliance with the legislation: High Value Goods Dealers, Trust or Company Service Providers not otherwise supervised, Art Traders, Private Members Clubs at which gambling is carried on, gambling service providers, notaries public, tax advisors and accountants, not otherwise supervised.
Further information is available on www.amlcompliance.ie.