Less than two years after the passage of an anti-money laundering law, Ireland's financial regulator has found broad compliance problems at banks and other businesses, according to a regulatory official. Since 2010, the Central Bank of Ireland has had the power to administer and enforce regulations under the Criminal Justice Act, a law designed to bring Ireland's anti-money laundering (AML) regime in line with the European Union's Third Money Laundering Directive. Central bank officials said that they have focused their oversight on institutions deemed to be most at risk to financial crime. In June, the regulator handed down its first-ever...
Indian officials are calling for currency transaction reporting requirements for travel agents, a New York City councilman is against facing bribery, fraud and money laundering charges, and more, in this week's roundup.
Belgium and Ireland face potential fines and sanctions for failing to strengthen their anti-money laundering laws as part of a European Union directive, the London-based International Bar Association said Thursday.
Irish financial institutions and business have just nine more days to comment on a report that details how the Third European Union Money Laundering Directive will be implemented in domestic legislation.