144. Deputy Pearse Doherty asked the Minister for Finance the number of letters issued in each of the years 2014 to 2016 and to date in 2017 by banks (details supplied) to political representatives, their families or associates requesting additional information concerning identification, evidence of sources of funds, evidence of residential address and certified statement of assets as per section 37 of the Criminal Justice Act, 2010; and if he will make a statement on the matter. (Question 48855/17 asked on 21 Nov 2017 - Money Laundering)

Minister for Finance (Deputy Paschal Donohoe): The Deputy will understand that the information requested is not held within my Department. I have therefore requested a response to the Deputy’s question from each of the banks identified by the Deputy.
AIB Response:
“AIB has comprehensive policies and procedures in place to ensure compliance with the provisions of the Criminal Justice Act, 2010 (CJA 2010). This includes with regard to its obligations to determine whether it has relationships wit...

268. Deputy Pearse Doherty asked the Minister for Justice and Equality the grounds on which established bank customers in the State can be deemed subject to section 37 of the Criminal Justice Act 2010; and if he will make a statement on the matter. (Question 48856/17 asked on 21 Nov 2017 - Money Laundering)

Minister for Justice and Equality (Deputy Charles Flanagan): Banks as designated persons under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (“the Act”) are obliged to conduct ongoing monitoring of their customers and to keep their information/documentation up to date. This is in line with the risk-based approach allowing a designated person to apply appropriate measures. It also recognises that customer profiles change over time, as does the nature of business relat...

269. Deputy Pearse Doherty asked the Minister for Justice and Equality the grounds on which a bank is obliged to implement the issuing of a request pursuant to section 37 of the Criminal Justice Act 2010; if he is satisfied that these provisions are implemented consistently; and if he will make a statement on the matter. (Question 48857/17 asked on 21 Nov 2017 - Money Laundering)

Minister for Justice and Equality (Deputy Charles Flanagan): Section 37(1) of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 obliges a bank to take steps to determine whether a customer resident outside the State is a politically exposed person or a close associate or immediate family member of a politically exposed person (“PEP”); the definition of such a person is set out in Section 37(10). Section 37(3) requires that such steps should be those reasonably warranted b...

57. Deputy Pearse Doherty asked the Minister for Finance the reason the State is not fully implementing EU anti-money laundering directive four in relation to the beneficial ownership of trusts; and if it will be fully implemented. (Question 44563/17 asked on 24 Oct 2017 - Money Laundering)

Minister for Finance (Deputy Paschal Donohoe): The EU’s Fourth Anti-Money Laundering Directive (“4AMLD”) includes a number of measures to combat money laundering and protect the integrity of the financial system, efforts to which Ireland is committed. More specifically, in relation to the beneficial ownership of trusts, Article 31 of the Directive contains an obligation on trustees of express trusts to obtain and hold information on the beneficial ownership of the trust, that is details of the ...

419. Deputy Pearse Doherty asked the Minister for Justice and Equality her views on the website of a trust management company (details supplied) which advertises on the basis that it operates in a lightly regulated environment without the costs or inconveniences associated with an offshore jurisdiction. (Question 11344/15 asked on 24 Mar 2015 - Money Laundering)

Minister for Justice and Equality (Deputy Frances Fitzgerald): I propose to take Questions Nos. 419 and 437 together.
I wish to inform the Deputy that a total of 298 entities are currently authorised to operate as Trust or Company Service Providers (TCSPs) under the provisions of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 as amended by the Criminal Justice Act 2013.
Authorisation to operate as a TCSP, which is granted by me in my role as ‘State Competent Authority’ ...

437. Deputy Pearse Doherty asked the Minister for Justice and Equality the number of trust or company service providers authorised by her Department; her views on the website of a company (details supplied) which advertises on the basis that it operates in a lightly regulated environment without the costs or inconveniences associated with an offshore jurisdiction. (Question 11234/15 asked on 24 Mar 2015 - Money Laundering)

Minister for Justice and Equality (Deputy Frances Fitzgerald): I propose to take Questions Nos. 419 and 437 together.
I wish to inform the Deputy that a total of 298 entities are currently authorised to operate as Trust or Company Service Providers (TCSPs) under the provisions of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 as amended by the Criminal Justice Act 2013.
Authorisation to operate as a TCSP, which is granted by me in my role as ‘State Competent Authority’ ...

158. Deputy Pearse Doherty asked the Minister for Finance the steps he will take to establish a publicly available register of beneficial owners of companies and trusts in Ireland, as distinct from supporting a system where beneficial ownership can be established; and if he will make a statement on the matter. (Question 35267/14 asked on 23 Sep 2014 - Money Laundering)

Minister for Finance (Deputy Michael Noonan): The requirement to obtain and hold information on beneficial ownership stems from the provisions of the proposed 4th Anti-Money Laundering Directive which seeks to update the 3rd Directive to take account of the February 2012 revision of the international standards for anti-money requirements the recommendations of the Financial Action Task Force (FATF).  A general council agreement was reached on this file on 18 June 2014 giving Council a mandate ...

159. Deputy Pearse Doherty asked the Minister for Finance if the fourth revision of the Anti-Money Laundering Directive will prevent him in any way from establishing a publicly available register of beneficial owners of companies and trusts here; and if he will make a statement on the matter. (Question 35268/14 asked on 23 Sep 2014 - Money Laundering)

Minister for Finance (Deputy Michael Noonan): It should be noted that further negotiations need to take place between the EU parliament and the Council to finalise the text of the 4th Anti-Money Laundering Directive (“4AMLD”).
The text as agreed by Council provides that beneficial ownership information be made available in specified circumstances.  Our position has always been in favour of greater transparancy in relation to beneficial ownership. I understand that there has been further debate o...