Sunday, January 29, 2012
Text Size
Welcome
Last Updated: 4 October 2010
NOTE: We appreciate that many professionals, on-line libraries (public and private) companies, government agencies and students use this website as part of their research. We spend considerable time in creating and uploading lots of free information on www.antimoneylaundering.ie, www.mifid.ie and www.complianceireland.com. We know of no other private company that makes such quality material available free of charge. If you use this material in your research we simply ask, in accordance with professional courtesy standards, that you credit the website in your article, dissertation, presentation etc. We do the same whenever we prepare such material which is sourced from third parties.
Recent issues:
Monday 4th October 2010 - Anti Money Laundering & Terrorist Financing Training Dates announced. Thursday 28th October 2010, Thursday 25th November 2010 and Tuesday 21st December 2010 (9.00a.m. to 5.00p.m.). Cost €620 (no VAT). CPD hours. Venue: Dublin City Centre. We have uploaded details of Compliance Ireland's anti-money laundering training which has been completely updated to reflect the new Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. Click here for more details.
21 July 2010 - Financial Regulator posts notice that following the Minister for Justice and Law Reform’s signing of a Commencement Order, the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 is in force from 15 July 2010. The new Act transposes the Third Money Laundering Directive (2005/60/EC) and its Implementing Directive (2006/70/EC) into domestic law, bringing Ireland into line with EU requirements and the recommendations of the Financial Action Task Force. For full announcement, go to http://www.financialregulator.ie/processes/anti-money-laundering/Pages/WhatsNew.aspx?ListID=39be8f14-7392-41d0-bf89-d74c6d8f99ee&ListItemID=14
12 July 2010 - Financial Regulator posts draft Sectoral Guidance Notes for stockbroking banking and insurance sectors on website for public comment. Go to http://www.antimoneylaundering.ie/GNDownload.html for more.
Tuesday 29th June 2010 (and further dates to be announced in third quarter) - Money Laundering & Terrorist Financing Training. Tuesday 29th June 2010 (9.00a.m. to 5.00p.m.). Cost €620 (no VAT). CPD hours. Venue: Dublin City Centre. We have uploaded details of Compliance Ireland's anti-money laundering training which has been completely updated to reflect the new Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. Click here for more details.
21 June 2010 - Financial Regulator posts draft Sectoral Guidance Notes for credit unions on website for public comment. Go to http://www.antimoneylaundering.ie/GNDownload.html for more.
19 June 2010 - Financial Regulator posts draft Sectoral Guidance Notes for banking and insurance sectors on website for public comment. Go to http://www.antimoneylaundering.ie/GNDownload.html for more.
17 June 2010 - Department of Justice and Law Reform announces registration requirements for Trust & Company Service Providers and Private Members Gaming Clubs. Go to http://www.antimoneylaundering.ie/downloads/Justice-AML-TCSP-Casino-registration-by-20100715.pdf to read more.
10 May 2010 - Minister for Justice announces signing into law of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. Go to http://www.complianceireland.com/documents/Ahern-Welcomes-Anti-Money-Laundering-Laws-20100510.pdf to read more.
23 March 2010 - Compliance Ireland Newsletter 08/2010 - Financial Crime Update released.
19 March 2010 - Amendments to new Anti-Money Laundering and Counter-Financing of Terrorism Bill passed by Seanad Éireann. We have update our webpage http://www.antimoneylaundering.ie/3MLDir.html to include all recent information on the progress of the new Bill.
19 March 2010 - New Draft Core Guidance Notes released. We have update our webpage http://www.antimoneylaundering.ie/GNDownload.html to include all recent information on the progress of the new Bill.
Two directors of an Irish financial business guilty of money laundering: Financial Advisor Ted Cummingham received a 10 year jail sentence. His son, Timothy Cunningham received a three year suspended sentence.To read more about the cases of Ted Cunningham (convicted by jury) and Timothy Cunningham (convicted by admission of guilt) go
to http://www.complianceireland.com/HotTopics.html#AML_CunninghamSentencing. On 28 July 2009, Mr Ted Cunningham is reported by the Irish Times to have agreed to pay more than €340,000 to the State after it applied for a confiscation order for any benefits that he obtained from his crimes. The paper also reports that Ted Cunningham has been granted free legal aid to appeal both his conviction and his sentence to the Court of Criminal Appeal but it may be next year before the appeal is heard. See www.irishtimes.com.
Contact us for more at This e-mail address is being protected from spambots. You need JavaScript enabled to view it
If you are concerned about demonstrating your compliance with Europe's, and Ireland's, anti-money laundering (AML) and counter-financing of terrorism (CFT) obligations then welcome to Ireland's leading specialist AML/CFT website. We hope you find this website useful. We encourage feedback, so please send any comments to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
-
Do you need ''Risk Based'' AML/CFT Manuals, Procedures, Checklists and Training? Then visit our sponsor Compliance Ireland Regulatory Services Limited's website www.complianceireland.com. Compliance Ireland has assisted many financial and non-financial services firms by writing tailored 'risked-based' AML/CFT business Manuals, Procedures and Checklists. Samples of various Compliance Manuals can be viewed at http://www.complianceireland.com/compliancedocs.html.
-
Compliance Ireland also specialises in performing AML/CFT risk assessments and remedial action exercises in a discrete manner. For information about Compliance Ireland's public and in-house training courses visit the Training and Services page on this website by clicking here.
Through this site you can download copies of:
-
The new Criminal Justice (Money Laundering and Terrorist Financing) Act 2010;
-
3rd EU Money Laundering Directive and implementing Directives; and
-
Various Industry Irish Guidance Notes on Anti-Money Laundering and Financing of Terrorism as well as various directions and notices issued by the Minister and the Irish Financial Services Regulatory Authority (''Financial Regulator'') click here to download this material.
Note: The 2009/10 3rd Directive MLSC Guidance Notes are still in draft form for consultation and do not yet have effect. Looking at the 2009 Bill it seems that these may be given some form of legal effect by the Minister approving these under section 107 of the Bill.
This site is updated regularly. Up until 28 July 2009 there was very little publicly available information on Ireland's progress regarding our implementation of the 3rd EU Money Laundering Directive. Our lack of progress led to the EU Commission announcing on 16 October 2008 that Ireland, Belgium, Spain and Sweden have been referred to the European Court of Justice over non-implementation of the 3rd Anti-Money Laundering Directive. The transposition deadline for the Directive was 15 December 2007.
For more information click on News appearing in the menu on the left section of this page.
We intend for this website to become a leading internet resource on money laundering issues, laws and regulations in Ireland, as well as coverage of international anti-money laundering and counter financing of terrorism issues. In the interim, please contact us at Compliance Ireland on +353 (0) 1 425 5962 or email Kevin O'Doherty ( This e-mail address is being protected from spambots. You need JavaScript enabled to view it ) to discuss any anti-money laundering concerns or training requirements you might have. As we do not practise an accountants, we are not compelled to report you (our clients) to the ODCE, IFSRA, Garda or Revenue Commissioners under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, the Central Bank & Financial Services Authority of Ireland Acts (2003 & 2004) or the Company Law Enforcement Act (2001) or similar legislation. This means that we may treat your information in a highly confidential manner; so unlike your accounting or legal advisors, we are not required to report you or your AML/CFT failures to the authorities. Thus we can help you resolve your regulatory problems in a discrete and non-public way - but we do not, under any circumstances, condone money laundering or failures to implement procedures to detect and prevent it.
Our aim is to help you resolve your regulatory predicament and, where you are regulated by a professional body or trade association, we shall assist you with any disclosures you are compelled to make to the authorities and your regulator (for example, Irish financial and insurance businesses must fully consider the ramifications of failing to report a regulatory breach to IFSRA). However you can trust us to help rectify your business processes and to get your AML/CFT systems and documentation in order without fear that we shall be obliged to report you to the authorities - think about that!
All regulatory consulting services performed for you will be performed through Compliance Ireland. So please visit www.complianceireland.com to learn more about Compliance Ireland and for details of the compliance, anti-money laundering, corporate governance and data protection services that Compliance Ireland offers.
Over time this website will develop into a specialist anti-money laundering and counter-financing of terrorism resource website. For services offered by Compliance Ireland, please also www.complianceireland.com for information on specialist AML and CFT services provided to:
-
Credit Institutions
-
Financial Institutions
-
Insurance Companies
-
Reinsurance companies and SPVs
-
Intermediaries - investment, mortgage and insurance
-
Money Transmitters
-
Bureaux de Change
-
Payment Institutions
-
Other investment/insurance businesses regulated by the Irish Financial Services Regulatory Authority
-
Chartered Accountants
-
Solicitors
-
Estate Agents and Auctioneers
-
Non-Executive Directors
-
Casinos (and Private Members' Clubs)
-
Dealers in High Value Goods
-
Trust and Company Service Providers
-
Other Designated Bodies / Designated Persons (i.e. persons who must comply with anti-money laundering and counter-financing laws)
Please note that ownership of the intellectual property in the Guidance Notes appearing on this website belongs to The Money Laundering Steering Committee or other relevant professional bodies. Accordingly Kevin O'Doherty does not claim any rights in the Guidance Notes nor can We accept any responsibility for any error or omissions in the Guidance Notes. This website simply allows visitors easy access to the main Guidance Notes published within Ireland. Our intention is to simply help MLROs and their employers meet their AML/CFT obligations. You should obtain professional advice whenever you are in doubt of your anti-money laundering responsibilities. That's what we do, so call us today on +353 1 425 5962
WARNING: the list of Prescribed Countries set out in the various Guidance Notes is not up-to-date. This is because each Guidance Note was written prior to new countries being added to the list of Prescribed Countries. The current list (as at 1 January 2006) is as follows:
(1) All members states of the European Union; and (2) Australia, Canada, Channel Islands, Hong Kong, Iceland, The Isle of Man, Japan, New Zealand, Norway, Singapore, Switzerland, Turkey, USA, Argentina, Republic of Brazil, Russian Federation, South Africa, Mexico and Liechtenstein.
Always check with your trade association or Regulator if you are in doubt as to whether a country is, or is not, a Prescribed Country under section 32 of the Criminal Justice Act, 1994. P.S. do not make the mistake that a FATF/GAFI Member and Observer Countries meet the 'Prescribed Country' standards required by Ireland. The two lists are mutually exclusive.
CLICK HERE TO DOWNLOAD THE GUIDANCE NOTES
Looking for a career in the compliance, legal and risk arenas, including anti-money laundering? For careers offered by Ireland’s leading financial, insurance and telecom firms please visit www.complianceireland.com/jobs.html
The following domains are directed to www.complianceireland.com -
www.amltraining.com, www.amlforbanks.com, www.amlforlawyers.com, www.amladvice.com, www.moneylaunderingireland.com, www.moneylaundering.ie
Compliance Ireland, Lower Ground Floor, 13 Adelaide Road, Dublin 2, Ireland Phone: +353 (0) 1 425 5962 Fax: +353 (0) 1 633 5005 email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it / This e-mail address is being protected from spambots. You need JavaScript enabled to view it