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ARTICLE · 29 APRIL 2021

Ireland Implements 5MLD

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The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 ("CJA 2021") transposes provisions of the fifth Anti-Money Laundering Directive EU/2018/843 ("5MLD") into Irish law

IrelandGovernment, Public Sector
Stephen Carty
Stephen Carty
Lorna Smith
Lorna Smith
Philip Keegan
Philip Keegan
Alison Gibney
Alison Gibney
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The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 ("CJA 2021") transposes provisions of the fifth Anti-Money Laundering Directive EU/2018/843 ("5MLD") into Irish law1. 

CJA 2021 - Key Measures

CJA 2021 became effective on 23 April 2021.

It introduces a range of reforms into Irish law from 5MLD2 in the area of anti-money laundering and counter-terrorist financing ("AML / CTF") including:

  • Extending the categories of entities in the scope of the requirements ("Designated Persons") to include art dealers, tax advisors, letting agents and virtual asset service providers3;
  • Requiring Designated Persons to check, in relevant cases, that the customer has made the necessary filing in the relevant central register of beneficial ownership prior to establishing a business relationship;

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