The Criminal Justice Bill, 2013 was signed into law on 12 June last. This Bill first appeared in February last as the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill, 2013. At a late stage in the legislative process the Bill changed its title to the Criminal Justice, Bill 2013 in recognition of some late changes (in Part 3) concerned with new enforcement powers to close down certain mobile communications services in response to a threat of terrorist activity. The new legislation is mainly about some minor changes to the anti-money laundering rules in the Criminal Justice (Money Laundering and Terrorist Financing) Act, 2010 (the 2010 Act). Part 2, other than Sections 5, 15 and 16 came into force on 12 June 2013. This means that the changes to the AML compliance rules noted below are operative.
There is a technical amendment to clarify that the definition of "occasional transaction" which applies in all cases (other than for private members' gaming clubs and wire transfers) is when an amount of €15,000 is reached, rather than exceeds €15,000.
There is some tightening of the rules relating to simplified customer due diligence (SCDD) so that SCDD should not be applied unless appropriate checks are done to ensure that the customer qualifies for SCDD. This change simply places on a statutory basis what would, under the current requirements, be perceived as good practice. Enhanced CDD measures must now be applied to an existing customer who subsequently becomes a PEP. The policies and procedures which designated persons must maintain must now reflect measures taken to keep documents and information relating to the customers of that designated person up to date. Finally, the 2013 Act amends the record-keeping rules of Section 55 of the Act so that CDD and transaction records may now be maintained outside the State. However, where such records are kept outside the State the designated person must ensure that those records are produced in the State to a member of the Gardaí Siochana, an authorised officer, a person to whom the designated person is required to produce such records in relation to his or her business, trade or profession as soon as practicable after the records concerned are requested, and where the obligation to produce the records arises under an order of court, within such period specified the court order.