The Government approved the drafting of the Criminal Justice (Money Laundering and Terrorist Financing)(Amendment) Bill along the lines of the General Scheme below on 20 December, 2016. 

The Bill will transpose most of the provisions of the 4th EU Money Laundering Directive which has the aim of strengthening laws in the EU to combat money laundering and terrorist financing. The Bill will amend the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 which gave effect to the 3rd EU Money Laundering Directive, it will also align the provisions with the recommendations of the Financial Action Task Force (FATF).

General Scheme - Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill