27 November 2018 - CBI Press Release
From 26 November 2018, firms (not otherwise authorised or licenced to carry on business by the CBI) which are offering certain services (the CBI is referring to these as 'Schedule 2 Activities') are required to register for anti-money laundering purposes with the CBI.
This is pursuant to new provisions introduced by the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 (the Act). The Act was commenced on 26 November 2018, pursuant to S.I. No. 486 of 2018. The Act amends various sections of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (the 2010 Act) and the Criminal Justice Act 2013 (the 2013 Act). Section 34 of the Act inserts a new section (Section 108A) into the 2010 Act, which introduces a statutory requirement for certain firms to register for anti-money laundering purposes with the CBI.
If a firm offers any services which fall within these 'Schedule 2 Activities' - and it is not otherwise authorised or licenced to carry on business by the CBI - then it may need to register.
CBI Guidance and Links
More information on registration obligations, exemptions to registration and the registration process is available from the CBI: Schedule 2 Firms - Registration for Anti-Money Laundering Purposes which includes links to the Registration Form to be used to register as a Schedule 2 firm with the CBI and to Guidance Notes that will assist with completion of the Registration Form.
