This Bill, will transpose the majority of the Fourth Anti-Money Laundering Directive (Directive (EU) 2015/849) (MLD4) into Irish law. It was published by the Minister for Justice on 10 May and will amend the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 and the Criminal Justice Act 2013 (which transposed the Third Money Laundering Directive into Irish law).
Parts of Article 30 of MLD4, which deal with beneficial ownership of corporates by individuals, were already transposed in November 2016. The Bill, together with the Criminal Justice (Corruption Offences) Bill, forms part of the Government's white collar crime package.
For further details on the key provisions of the Bill please see our May 2018 briefing note.
A link to the text of the bill is here.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.
