Minister of State with responsibility for Law Reform, James Browne TD, today welcomed the passage through the Dáil of two pieces of criminal legislation
- The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill – which will strengthen existing anti-money laundering legislation and will give effect to provisions of the Fifth EU Money Laundering Directive, and
- The Criminal Justice (Theft and Fraud Offences) (Amendment) Bill, which gives effect to EU Directive 2017/1371 on the fight against fraud to the European Union’s financial interests by means of criminal law.
Addressing the passing of the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill, the Minister said,”“This Bill ensures that our regulatory framework keeps pace with the increasing integration of financial flows in the internal market, the evolving trends, technological developments and the prevention of organised crime.“
This Bill will strengthen existing anti-money laundering legislation and contains a renewed focus on gatekeepers of financial systems. It ensures that there is increasing transparency by bringing further institutions within the scope of the Irish anti-money laundering regulatory framework and by combatting the use of new trends and technologies employed by criminals.