Ireland revises AML legislation

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. What is the name of the new anti-money laundering legislation, for the purpose of engagement letters?

  2. Which of the following is not an example of a virtual asset?

  3. What will registration with the Central Bank disallow virtual asset service providers from doing?

  4. Which of the following has not either been brought in scope or had its designation or definition extended?

  5. What does the new Act state must trusts do if banks are to deal with them?

  6. Which of the following transactions do not need their background and purpose examining?

  7. What has happened to the supervision period for politically exposed persons (PEPs)?

  8. What do electronic money providers now have to do?

  9. What will purchasers of electronic money now have to do?

  10. Why has legislation around even small amounts of electronic money been tightened?

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