When Not to Report Money Laundering


Certain circumstances can arise from time to time when an accountant (as well as certain other designated persons) is allowed to rely on the privilege reporting exemption contained in Section 46 of the Criminal Justice (Money Laundering and Terrorist Financing) Acts, 2010 to 2018.

The effect of this exemption, when properly applied, is that no suspicious transaction report (STR) is made.

It is essential that the correct protocols are followed when relying on this exemption, and more on this is available in our new fully updated AML Policies & Procedures Manual, which is now available here.

It is fully updated for the Criminal Justice (Money Laundering and Terrorist Financing) Acts, 2010 to 2018 which came into force on 26 November 2018. It retails at €150+VAT.

See also our on-demand webinars on AML, accessible at any time.

Other webinar topics include Investment Property Accounting, FRS 105, Common Errors in FRS 102 Accounting and the latest on FRS 105 and company law, visit our online webinar training website. Once viewing is completed, customers will receive a CPD Certificate confirming their learning.