The 2019 annual report was prepared by the Anti-Money Laundering Compliance Unit (AMLCU) of the Department of Justice under section 65 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 as amended.
The AMLCU is responsible for supervising those designated persons that are not subject to supervision by another competent authority. The AMLCU supervises:
- Dealers in High Value Goods,
- Trust or Company Service Providers (TCSPs) not otherwise supervised by the Central Bank or prescribed accounting bodies;
- Tax Advisors and External Accountants (not within the remit of prescribed accountancy bodies),
- Private Members’ Clubs and
- Gambling service providers (Tote, online gambling, retail gambling)
474 onsite inspections were carried out in 2019 by the AMLCU.
The AMLCU can issue directions to comply to Designated Persons and they can make Competent Authority Reports (CARs) to the Financial Intelligence Unit within An Garda Síochána and to the Revenue Commissioners. In 2019 the AMLCU issued 22 directions to High Value Goods Dealers and submitted 321 CARs to FIU Ireland on GoAML (online reporting system) and copied them to Revenue.
The report provides detailed information on the approach the Department of Justice takes and, on their efforts, to engage with the relevant Designated Persons.
for the full report.
By Eilish Larkin