This Bill has passed the Report and Final stages and is now due before the Seanad. One important change was introduced which allows reliance to be placed on identity checks carried out by tax advisors conducting customer due diligence procedures. While it is expected that the Bill will be enacted over the next week or so, it is envisaged that the new legislation will not have immediate effect and will be commenced in three months time so as to give regulated businesses an opportunity to bring their AML procedures in line with the new requirements.