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Anti Money Laundering

Anti-Money Laundering legislation (the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 and 2013) imposes certain obligations on solicitors when they deal with a client, and in particular, where they know or suspect that the result of a legal transaction (a house sale, a sale of shares etc) is to transfer assets that derive from the proceeds of criminal conduct.

The Act creates a number of criminal offences and solicitors are subject to severe criminal sanctions, both fines and imprisonment, if they breach their obligations under the Act.

A client care leaflet is available which explains why solicitors are obliged to request information pursuant to their statutory anti-money laundering obligations – view the Money Laundering leaflet.