On 8 May 2019, the Central Bank of Ireland (the “Central Bank”) reprimanded and imposed a fine of €280,000 on Campbell O’Connor & Company (the “Firm”) for five breaches of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (the “CJA 2010”). The Firm has admitted the breaches. The […]
Here’s the headline piece: Enforcement Action Central Bank of Ireland and Bank of Montreal Ireland plc. Bank of Montreal Ireland plc. reprimanded and fined €1,246,189 by the Central Bank of Ireland for breach of banking licence condition On 26 April 2019, the Central Bank of Ireland (the “Central Bank”) reprimanded […]
Financial Sanctions update March 2019 The Central Bank of Ireland (“Central Bank”) is responsible for the administration, supervision, and enforcement of relevant aspects of financial sanctions in Ireland. In carrying out this role, the Central Bank publishes updates on its website to assist firms in complying with the relevant […]
Financial Sanctions update September 2018 There is a legal obligation to comply with EU Council Regulations relating to financial sanctions as soon as they are adopted. Once a person or entity has been sanctioned under EU Financial Sanctions, there is a legal obligation not to transfer funds or make […]
Financial Sanctions update Spring 2018 There is a legal obligation to comply with EU Council Regulations relating to financial sanctions as soon as they are adopted. Once a person or entity has been sanctioned under EU Financial Sanctions, there is a legal obligation not to transfer funds or make funds […]
Intesa Sanpaolo was fined for the following deficiencies in their AML program: Risk assessment: assessment of money laundering/terrorist financing (‘ML/TF’) risks specific to its business. Customer due diligence: policies and procedures for conduct of enhanced customer due diligence (‘ECDD’) on customers who were politically exposed persons (‘PEPs’). […]
The fine was 2,275,000 EUR for the following AML failures – AIB failed to: Report suspicious transactions without delay to An Garda Síochána and the Revenue Commissioners. Conduct customer due diligence (‘CDD’) on existing customers who had accounts prior to May 1995 (‘Pre–95 customers’) when the first […]
The fine was 3,150,000 EUR for the following AML program failures: For the year 2012, the Firm’s risk assessment was inadequate as the risk rating for certain categories of customers, products and channels was not included in every instance although that information was identified as necessary for the evaluation […]
Central Bank of Ireland Issues Warning on Unauthorised Investment Firm/Investment Business Firm 17 February 2017 The Central Bank of Ireland (‘Central Bank’) today (17 February 2017) published the name of an unauthorised firm, Kawano and Associates (Japan). Kawano and Associates (Japan) is not authorised by the Central Bank as an […]
Central Bank of Ireland Issues Warning on Unauthorised Investment Firm/Investment Business Firm 10 February 2017 The Central Bank of Ireland (‘Central Bank’) today (10 February 2017) published the name of an unauthorised firm, Asashi Mergers & Acquisitions (Japan). Asashi Mergers & Acquisitions (Japan) is not authorised by the Central Bank […]
Mr. Watchlist 