Next year Ireland will be assessed on technical rules and the effectiveness of its anti-money laundering regime by the international body - the Financial Action Task Force. However, Ms Rowland said the review will be "quite a challenge" for Ireland because regulators, banks and government will have to show that the country is meeting all the new rules required by the taskforce. The Department of Justice has to transpose the 4th AML Directive into law, which will impose new requirements, including the setting up of a central register of beneficial owners and a list of "politically-exposed persons" in Ireland. However, it is not yet known when the directive will be transposed in Ireland.