Legislation applicable to Anti-Money Laundering 

• The Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (“the Act”) commenced on 15 July 2010.
• S.I. No. 342 of 2010 - Order that commenced the Act on 15 July 2010.
• S.I. No. 343 of 2010 - Order by which the Minister designated jurisdictions as imposing requirements equivalent to those specified in the Third Money Laundering Directive.

The Act transposes the Third Money Laundering Directive 2005/60/EC and the Implementing Directive 2006/70/EC into Irish Law, bringing Ireland into line with the most recent revision of the recommendations of the Financial Action Task Force, ensuring that Irish practice is in line with international standards.

The Act:

• Defines broadly the offence of money laundering
• Requires designated persons to identify non-domestic politically exposed persons (PEPs)
• Requires identification of beneficial ownership of legal entities, such as companies and trusts
• Requires designated persons to focus on the level of risk of money laundering and terrorist financing in meeting their obligations under the Act
• Requires the Central Bank and Financial Services Authority of Ireland to effectively monitor credit and financial institutions (as defined in the Act) with regard to their obligations under the Act, and to take measures that are reasonably necessary to secure such compliance.

 Legislation in force up to 15 July 2010

• Criminal Justice Act 1994 (Parts I, IV & VIII) 

 As amended by the following primary legislation:

• Criminal Justice (Mutual Assistance) Act, 2008
• Criminal Justice (Terrorist Offences) Act, 2005
• Criminal Justice (Theft and Fraud Offences) Act, 2001
• Criminal Justice (Miscellaneous Provisions) Act, 1997
• Disclosure of Certain Information For Taxation and Other Purposes Act, 1996

As amended by the following secondary legislation 

• S.I. No. 52 of 2004 Criminal Justice Act, 1994 (Section 57A) Order 2004 
• S.I. No. 3 of 2004 Criminal Justice Act, 1994 (Section 32) (Prescribed Activities) Regulations
• S.I. No. 416 of 2003 Criminal Justice Act, 1994 (Section 32) (Amendment) Regulations 2003 
• S.I. No. 242 of 2003 Criminal Justice Act, 1994 (Section 32) Regulations 2003  
• S.I. No. 216 of 2003 Criminal Justice Act, 1994 (Section 32(10)(a)) Regulations 2003 
• S.I. No. 208 of 2003 Criminal Justice Act, 1994 (Section 57A) (Revocation) Order 2003 
• S.I. No. 342 of 1996 Criminal Justice Act, 1994 (Section 47(1)) Order 1996
• S.I. No. 55 of 1995 Criminal Justice Act, 1994 (Commencement) Order 1995
• S.I. No. 104 of 1995 Criminal Justice Act, 1994 (Section 32(10)(a)) Regulations 1995
• S.I. No. 105 of 1995 Criminal Justice Act, 1994 (Section 32(10)(b)) Regulations 1995
• S.I. No. 106 of 1995 Criminal Justice Act, 1994 (Section 32(10)(d)) Regulations1995 
• S.I. No. 324 of 1995 Criminal Justice Act, 1994.(Section 32(10)(b)) (No. 2) Regulations 1995
• S.I. No. 333 of 1996 Criminal Justice Act, 1994 (Commencement) Order 1996