IRELAND: AML UPDATE: CENTRAL DATABASE OF BANK ACCOUNTS, PAYMENT ACCOUNTS AND SAFE-DEPOSIT BOXES

On 10 February, an article from Arthur Cox LLP reported on new regulations that pave the way for the establishment of a central database of payment accounts, bank accounts and safe-deposit boxes held with credit institutions (banks, and Class 1 investment firms) in Ireland.  This is required by the EU 4th AML Directive (although the target was a requirement to do so by September 2020).

https://insights.arthurcox.com/post/102hihe/aml-update-central-database-of-bank-accounts-payment-accounts-and-safe-deposit

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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