The Criminal Justice Act 2013 (the “Act”) was signed into law on 12 June 2013. The Act amends the existing anti-money laundering (AML) legislation contained in the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. The amendments will align certain provisions more closely with international standards and amend a number of provisions to reflect operational requirements. The AML provisions in the Act require the making of commencement orders by the Minister of Justice and Equality.
The Act also contains provisions allowing orders to be made suspending mobile phone and internet services where there is a perceived serious threat of the use of an explosive or other lethal device that could be activated via a mobile communications service.
The AML measures contained in the Act include:
- A revised definition of “occasional transaction”;
- Clarification of the obligations of solicitors and other independent legal professionals;
- A requirement for designated persons to take account of situations where an existing client or customer subsequently becomes a politically exposed person (PEP);
- A requirement for designated persons to clearly establish that simplified client due diligence can apply in certain situations;
- Revised obligations on internal AML policies and procedures;
- Additional powers for “state competent authorities”.
Please click here to view the Act in full.