The role of the Anti-Money Laundering/Counter Terrorist Financing Policy Coordination Unit

The Anti-Money Laundering/Counter Terrorist Financing (AML/CTF) Policy Cordination Unit was established in September 2015 to coordinate the Department’s policy in respect of Money Laundering and Terrorist Financing.

 

Background

Money Laundering and Terrorist Financing pose a threat to every country undermining domestic capital formation, depressing growth, diverting capital away from development and undermining the security of the State and the wider international community.  Ireland has obligations to address Money Laundering and Terrorist Financing under EU Law and through the implementation of the Recommendations of the Financial Action Task Force (FATF) – an international body which sets standards and promotes effective implementation of legal, regulatory and operational measures for combating money laundering and terrorist financing. 

Ireland will be required to transpose the 4th EU Money Laundering Directive into Irish law.  Furthermore it will be subject to an evaluation by FATF in 2016, the response to which will be led by the Department of Finance.  However the Department of Justice and Equality has responsibility for a number of non-financial sectors which are recognised as being at risk of Money Laundering and Terrorist Financing – these include, among others:


Key Activities of the Unit

Among its key activities are:


Contact Details

Address:        Department of Justice and Equality

                       94 St. Stephen's Green

                       Dublin 2

                       D02 FD70

 

Phone:         + 353 1 6028255