Anti money laundering
We are ready. Are you?
The President of Ireland signed the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 into legislation on 5 May 2010, with the legislation becoming effective from 15 July 2010..
To ensure you are compliant with the new requirements, we have summarised below six steps to assist you.
Six steps to compliance
- Carry out a risk assessment of your products/services, customers, geographical jurisdictions and sales channels
- Consider application of the new risk-based approach
- Identify exemptions and use simplified due diligence where possible
- Implement new policies and procedures to manage “Politically Exposed Persons”
- Make arrangements for reliance on third parties
- Update all your documentation
How we can help
Deloitte assisted the financial services industry with the development of new Guidance Notes, which are now published on the Financial Regulator's website. We have unrivalled expertise in the new requirements and are helping many clients with various aspects of these changes.
If you require subject matter expertise in this area, we can:
- Draft/review 3rd AML implementation strategy
- Design and facilitate a risk assessment workshop
- Develop/review 3rd AML policies and procedures
- Deliver training to compliance staff or all client facing staff
- Provide other ad hoc assistance as required
More Featured content
- Criminal Justice (Money Laundering and Terrorist Financing) Act 2010
- How to implement the new Criminal Justice Act 2010 (Money Laundering and Terrorist Financing)
- Third Anti Money Laundering Directive: view slides from our presentation
- Transposition of the Third Anti Money Laundering Directive into Irish Legislation
- The Third Money Laundering Directive: taking a closer look
Contact us
Sinead Ovenden
Director, Regulatory Compliance Services
T + 353 1 417 2545