Ireland—Money laundering offences and regulation


Produced in partnership with Will Glover of Fieldfisher and James Roche of Fieldfisher
Practice notes

Ireland—Money laundering offences and regulation


Produced in partnership with Will Glover of Fieldfisher and James Roche of Fieldfisher

Practice notes

This Practice Note looks at the principal money laundering offences in Ireland including the applicable penalties and relevant legal framework. This note also refers to the additional offences which affect designated persons and touches on their reporting requirements. In addition, this note highlights the key registration requirements for businesses.

Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) is vital for ensuring the security and stability of Ireland’s financial system and economy more generally.

Businesses and individuals who are designated persons should have a deep understanding of Ireland's AML/CFT requirements, including registration requirements, to avoid any potential criminal, or regulatory enforcement action.

Legal framework

This note focuses on the offences and registration requirements under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (Ireland) CJ(MLTF)A 2010 (IRL) as amended by:

  1. •

    Criminal Justice Act 2013 (Ireland)

  2. •

    Criminal Justice Act (Corruption Offences) Act 2018 (Ireland), and

  3. •

    Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (Ireland)

The CJ(MLTF)A 2010 (IRL) as amended implements Directive 2005/60/EC

Will Glover
Will Glover

Director, Fieldfisher

William acts for individuals and corporates on all aspects of criminal litigation, including proceeds of crime. He also advises on related compliance issues and procedures in addition to conducting investigations on behalf of businesses with concerns in respect of possible criminality.

He is currently recognized by the Legal 500 in Fraud: White-Collar Crime (Advice to Individuals) in addition to Regulatory Investigations and Corporate Crime (Advice to Corporates).

His significant recent work includes acting for corporates and individuals on serious fraud and corruption matters.

He has advised a number of corporate entities on dealing with voluntary and compulsory requests from the authorities. He is also experienced in representing individuals in general crime and extradition matters.

William joined Fieldfisher after several years at the Criminal Bar in London where he often acted for individuals in serious fraud matters at the specialist fraud court; Southwark Crown Court. While at the Bar in London, he also spent time seconded to the Serious Fraud Office.

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James Roche
James Roche

Director, Fieldfisher

James is a Director in the Public and Regulatory Department of Fieldfisher Ireland LLP. He acts for a range of public bodies, regulators, and private individuals, in relation to all aspects of regulatory and administrative law, including investigations, prosecutions, inquires, and the imposition of sanctions.
 
James is a highly experienced advocate, appearing regularly before the District Court, and a range of other administrative bodies.
 
James has acted on the prosecution and defence side of numerous regulatory prosecutions, over many years.
 
Prior to joining Fieldfisher Ireland LLP, James spent almost 9 years at ByrneWallace LLP, both as a Trainee Solicitor, and Solicitor and Associate in the Litigation Department.

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Jurisdiction(s):
Ireland
Related legal acts:

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