ICAI launches laundering regulation help site

The Institute of Chartered Accountants in Ireland (ICAI) has launched a new web resource site on the anti-money laundering regulations enacted by the Government last September.

The regulations signed by Minister McDowell give effect to the second European Union directive on money laundering.

The portal consists of two sites - one directed at accountants and the public working in the Republic of Ireland, the other directed at Northern Ireland.

The pages pull together a wide range of published materials on the application and extent of the new regulations.

ICAI Chief Executive, Brian Walsh said today : "The new anti-money laundering regulations impose strict criteria for the handling of moneys not just on accountants but on other professionals like solicitors and estate agents.

"It is important that the public are aware of the new requirements so that they can understand the processes that their professional advisers are now obliged to undertake. This website is a one stop shop for anybody who needs information on this issue," Walsh added.

However, the ICAI has expressed some concern over the measures.

The initial European Union money laundering directive was initially organised to tackle organised and other serious crime.

The site is located at www.icai.ie/money-launder-roi/index.cfm.