Irish Central Bank Issues AML Guidelines
Law360, London (September 6, 2019, 5:05 PM BST) -- Ireland’s central bank issued guidelines to businesses on Friday on how to spot dirty money after European law enforcement authorities estimated that between €715 billion ($790 billion) and €1.87 trillion is laundered globally every year.
Companies must make sure their policies for spotting possible money laundering are up to date and constantly scrutinized, the central bank said. It encouraged businesses to look any corruption risks that might be associated with their customers.
“Firms should be asking questions like: Who are my customers? Who are the beneficial owners of the accounts they are opening?” Derville Rowland, the central bank’s director general of...
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