Financial Crime Quarterly Update Q2 2021
01 July, 2021
This issue of the Financial Crime Quarterly update outlines all of the latest news and regulatory changes within the world of Financial Crime. Q2 saw the commencement of the new Criminal Justice (Money Laundering and Terrorist Financing) Amendment Act 2021, which amends the Criminal Justice Act 2010 and transposes the 5th AML Directive into Irish Law. The Central Bank of Ireland have also released updated Guidelines to reflect the changes brought about by the 2021 Amendment Act.
There was also a lot of Financial Crime activity at a European level in Q2, including an overview from the ECB of trends in the prudential supervision of ML/TF risks, as well as early insights from the European Commissioner, Mairead McGuinness on the new EU AML Action plan.
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