Anti-Money Laundering Bill Signed into Law

Firms should note that the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2018 was signed into law on the 14^th November 2018. The bill amends the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 to give effect to certain provisions of the 4^th AML Directive. The legislation will impact on the anti-money laundering policies and procedures of CPA firms and firms should prepare for such changes.

An explanatory memorandum is available here. Further details and guidance will issue shortly.

An AML webinar to be held on the 11^th December 2018 will explore and provide guidance on these changes. The end of year CPD Wrap Ups will provide an update in this area.