Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 12 SEPTEMBER 2019

AML Inspections – Funds Industry

Dillon Eustace
Dillon Eustace
Contributor
Dillon Eustace

Dillon Eustace

Dillon Eustace is one of Ireland’s leading law firms focusing on asset management and investment...

View firm profile
Explore more from Dillon Eustace

Funds, management companies and investment firms should prepare for the possibility of an anti-money laundering and counter financing of terrorism

IrelandGovernment, Public Sector
Keith Waine
Keith Waine
Karen Jennings
Karen Jennings
Author LinkedIn connections

Funds, management companies and investment firms should prepare for the possibility of an anti-money laundering and counter financing of terrorism ("AML") inspection by the Central Bank of Ireland's dedicated Anti-Money Laundering Division ("AML Division").

In this bulletin we look at why this is the case, what to expect if you are subject to an AML inspection and how Dillon Eustace can help.

More resources, more inspections

One of the strategic priorities of the Central Bank of Ireland ("CBI") set out in its Strategic Plan for 2019-2021 is supporting the fight against money laundering. The CBI has confirmed that it has increased resources in its AML Division in recent years to support its AML supervisory engagement model which includes inspections, review meetings and risk evaluation questionnaires ("REQs"). We have noticed an increase in inspections amongst our clients which is borne out by the official statistics. The number of AML inspections has more than

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

Government Legislative Priorities For Autumn 2026

The Government has published its Autumn 2026 Legislation Programme, identifying 32 bills for priority publication and 32 bills for priority drafting. This article explores a selection of measures likely to be of interest to businesses, spanning digital economy, strategic infrastructure, litigation reform, financial regulation, competition law, corporate structures, employment, pensions, and healthcare sectors.
IrelandGovernment, Public Sector
William Fry LLP
William Fry LLP
Article

New EU Public Procurement Regime: Legislative Process Begins

The European Commission has proposed a comprehensive overhaul of EU public procurement law through a single, directly applicable Regulation that would replace existing Directives. This fundamental reform introduces mandatory quality-weighted award criteria, liberalised negotiation procedures, and entirely new frameworks for security considerations and European preference in public contracting.
European UnionGovernment, Public Sector
Arthur Cox
Arthur Cox
Article

Life Sciences Outlook 2026 - Data And Digital

The European Union's evolving regulatory landscape for artificial intelligence, cybersecurity, and health data is creating new compliance challenges and opportunities for life sciences organizations. From the AI Act's refinements to the delayed NIS2 Directive transposition in Ireland, stakeholders must navigate multiple intersecting frameworks while preparing for the European Health Data Space Regulation's implementation.
European UnionGovernment, Public Sector
Arthur Cox
Arthur Cox
Article

Ireland At The Centre Of The E-Evidence Package

The EU e-Evidence Regulation has entered into force, establishing a new framework for cross-border requests for electronic evidence in criminal proceedings. Service providers operating in the EU now face strict compliance deadlines and significant penalties for non-compliance, while navigating complex rules about data production, preservation orders, and limited grounds for refusal. How will companies balance law enforcement cooperation with fundamental rights protections under this challenging new regime?
IrelandGovernment, Public Sector
Matheson
Matheson
Article

CIMA’S New AML Audit Rules Effective 18 September 2026 And What Investment Funds Need To Know

The Cayman Islands Monetary Authority has introduced sweeping changes to anti-money laundering audit requirements for investment funds, mandating independent audits of entire compliance programmes by September 2026. This marks a fundamental departure from previous practice where internal AML officers could conduct their own testing, raising critical questions about implementation timelines, qualified auditor availability, and compliance costs for funds operating in the jurisdiction.
Cayman IslandsWealth Management
Dillon Eustace
Dillon Eustace
Article

AMLD6 And Beneficial Ownership Central Registers: New Access Rules In Ireland

Ireland has introduced significant amendments to its beneficial ownership registers in 2026, implementing the Sixth Anti-Money Laundering Directive (AMLD6) framework. These reforms fundamentally restructure access rights to the Central Register of Beneficial Ownership of Trusts and Corporate Entities, moving away from unrestricted public access toward a tiered system that balances transparency with privacy rights while maintaining accessibility for legitimate anti-money laundering purposes.
IrelandCorporate/Commercial Law
Dillon Eustace
Dillon Eustace
Article

SFDR 2.0 Trialogue Negotiations: Key Areas Of Focus For Fund Managers

The European Commission's proposed overhaul of the SFDR regime is entering crucial trialogue negotiations, with the Irish Presidency aiming to reach agreement by year-end. While the Council and Parliament have aligned on key issues like professional investor opt-outs, significant divergences remain on exclusion criteria for Transition funds, PAI reporting requirements, and engagement strategy disclosures that will shape the future of sustainable finance regulation.
European UnionFinance and Banking
Dillon Eustace
Dillon Eustace