Third Anti-Money Laundering Directive, September 2010
28.09.2010
On 5 May 2010, the President signed the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 into law (the “Act”). The Act implements the Third EU Money Laundering Directive 2005/60/EC (the “Directive”) into Irish law, more than two years after the deadline for implementation.
The Act consolidates and expands upon Ireland’s existing anti-money laundering and terrorist financing laws and repeals and revokes certain provisions of Ireland’s previous anti-money laundering legislation, the Criminal Justice Act 1994. The Act also gives effect to certain recommendations of the Financial Action Task Force, the international anti money laundering and anti terrorist body of which Ireland is a member.
The Act introduces a number of changes to the previous anti-money laundering regime.
