Question 1

What does the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2020 do?

Accepted Answer

Adds letting agents, virtual currency providers, and high-value art dealers as regulated entities required to apply anti-money laundering safeguards. Lowers the threshold for pre-paid card customer checks from €250 to €150 and bans credit institutions from creating anonymous safe-deposit boxes. Requires designated persons to obtain beneficial ownership information before entering business relationships and gives the Justice Minister power to define politically exposed persons.

Question 2

What stage is the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2020 at?

Accepted Answer

As of 25 Mar 2021, the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2020 is at Enacted. Once a bill passes every stage in both Houses of the Oireachtas and is signed by the President, it becomes law.

Question 3

Who introduced the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2020?

Accepted Answer

The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2020 was sponsored by Minister for Justice and Equality, and was introduced on 8 Sep 2020.

Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2020

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