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ARTICLE · 21 DECEMBER 2018

Ireland Implements 4MLD: Key Changes For Designated Persons

Maples Group
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The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (the "Amendment Act") transposes the majority

IrelandGovernment, Public Sector
Edward Miller
Edward Miller
Colm Rafferty
Colm Rafferty
Patrick Quinlan
Patrick Quinlan
Deirdre MacCarthy
Deirdre MacCarthy
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The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (the "Amendment Act") transposes the majority1 of the Fourth Money Laundering Directive (EU) 2015/849 ("4MLD") into Irish law.

The Amendment Act came into force on 26 November 2018. It updates the current Irish framework of legislation for the prevention of the use of the financial system for the purpose of money laundering or terrorist financing ("ML/TF"). Irish anti-money laundering ("AML") and counter terrorist financing ("CTF") legislation is now contained in the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 to 2018 (the "CJAs").

This update summarises the key changes under the Amendment Act and how it affects Designated Persons2.

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