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Saturday, November 04, 2017

Credit Union Sectoral Guidance Notes

On the 7th February, the Department of Finance published the sectoral AML-CFT guidance notes for Credit Unions. The Guidance Note was drafted by the Irish League of Credit Unions (ILCU) to assist Credit Unions in their compliance with the provisions of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. 

 

These Guidance notes have replaced the 2004 Money Laundering Guidance Notes for Credit Unions. As with the Core Guidance notes for financial institutions these Guidance Notes are not secondary legislation and credit unions must always refer directly to the CJA 2010 when ascertaining their statutory obligations.

 

For a copy of the guidelines click here

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