ARTICLE · 10 OCTOBER 2017

AML And CTF: FATF Evaluation Of Ireland Published

Arthur Cox

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This briefing summarises the findings, ratings and actions set out in FATF's report.

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Following its on-site visit to Ireland in November 2016, the Financial Action Task Force (FATF) has published its Mutual Evaluation of Ireland - 2017: Key findings, ratings and priority actions together with a helpful Executive Summary.

OVERVIEW

The report strikes a broadly positive note, highlighting that Ireland's anti- money laundering (AML) and counter-terrorism financing (CTF) framework is on a strong legislative and institutional footing, with the Central Bank of Ireland performing well from a supervisory perspective.

The report also notes that last year's national risk assessment by Ireland showed an appreciation of the risks that Ireland could face from an international perspective (see our earlier briefing: AML Update: Department of Finance publishes National Risk Assessment for Ireland) and that both the Central Bank and Department of Justice and Equality (DJE) have established good levels of cooperation with the entities within their respective remits.

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