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ARTICLE · 15 APRIL 2021

Criminal Justice (Money Laundering And Terrorist Financing) (Amendment) Act 2021

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The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (the "Act") has been signed into law by the President and is expected to be commenced shortly.

IrelandGovernment, Public Sector
Walkers
Walkers
Niall Esler
Niall Esler
Shane Martin
Shane Martin
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The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (the "Act") has been signed into law by the President and is expected to be commenced shortly. The Act transposes the Fifth Anti-Money Laundering Directive (Directive (EU) 2018/843) ("5AMLD") into Irish law, by amending the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 as amended (the "CJA 2010"). The Act effects the following key changes to Irish anti-money laundering and counter-financing of terrorism ("AML/CFT") law and impacted firms should act now to ensure that they comply with the new obligations.

Virtual Asset Service Providers ("VASPs")

AML/CFT requirements will apply to a range of VASP businesses for the first time and VASPs will be required to register with the Central Bank of Ireland ("CBI"). A firm that is currently authorised by the CBI for prudential and/or conduct of business services which is currently providing, or plans to provide,

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