Solicitors needing assistance can contact the Law Society’s AML helpline, email: aml@lawsociety.ie. 

The AML helpline assists solicitors with best practice guidance. The legislation requires solicitors to make subjective decisions about, for example, the adequacy of CDD material in specific scenarios, whether a ML/TF risk arises on a case-by-case basis, or whether the reporting obligation arises in specific circumstances. Accordingly, the helpline cannot confirm the adequacy of AML documentation / approach to be taken in specific circumstances. The helpline cannot provide legal advice.

Top 10 checklist

1. Computerise your accounts if you are relying on manual accounts 
2. Review your dormant balances at least every six months 
3. Review your balancing statements every three months 
4. Make sure your section 150 precedents are up to date and that all bills are compliant with the Legal Services Regulation Act 2015 
5. Ensure that client account payment can only be authorised by a partner or principal 
6. Confirm that your AML procedures are up-to-date and properly recorded: 
   • Policies Controls Procedures need to be documented 
   • Business Risk Assessment need to be documented 
   • Evidence of Training of Staff need to be documented 
   • Client Risk Assessment needs to be documented on each file 
   Guidance materials on all of the above are available on the Law Society website
7. Make sure your accounts (and your files) are backed up off-site 
8. Maintain a register of undertakings (Regulation 38) 
9. Get a case management system 
10. Contact the Law Society if you are having difficulty 

This list is non-exhaustive and does not represent a complete summary of AML legislation and the Solicitors Accounts Regulations. For further guidance, please see below and guidance on the Solicitors Accounts Regulations,

AML training

The following online AML Training and Information Sessions are available to solicitors:

• the Law Society’s online AML training hour which is part of the Regulatory Matters Programme and is delivered through Learnskills. This operates on a separate login system to lawsociety.ie. If you have not already done so, you will need to create your own Learnskills account (CPD Hours: 1 Regulatory Matters (accounting and AML compliance) (by eLearning)]

There are also free courses available to solicitors and their support staff:

• the AML Update Session (30-minute video) which is accessible through the Law Society’s Small Practice Business Hub or on YouTube.
• ‘AML for non-solicitors in a law firm’

AML Infographics

Three infographics have been prepared to visually communicate solicitor AML, illustrating:

1. The AML responsibilities within a solicitors’ firm
2. A step-by-step approach to completing a Business Risk Assessment
3. Customer Risk Assessment to determine CDD and ML/TF Risk

View the infographics.

Sample adaptable forms 

Use these forms to help you when updating your approach to AML:

1. Business Risk Assessment
2. Policies, Controls and Procedures
3. Risk Factor Questionnaire for Customer Risk Assessment
4. ‘Document your Thought Process’ forms for Customer Risk Assessment

Legislation

• Unofficial Consolidation of Revised Legislation

2021 Act Update

• 2021 Act Solicitor AML Update (contains links to information from Business Law & Probate, Administration and Trusts Committees)
• Definition of 'prominent public functions', Department of Justice Guidelines

Solicitors (Money Laundering and Terrorist Financing) Regulations 2020

The Law Society issued a practice note relating to the introduction of a new statutory instrument, (SI 377 of 2020) with regard to solicitors' statutory anti-money laundering (AML) obligations.

• View the AML practice note
• View SI 377 of 2020

The statutory instrument does not impose any new obligations on solicitors with regard to their statutory AML obligations, nor does it confer any new powers on the Law Society regarding its statutory role as the competent authority for solicitors (in the context of monitoring and securing their compliance with AML obligations). 

The purpose of the Statutory Instrument is to update the previous regulations (Solicitors (Money Laundering and Terrorist Financing) Regulations 2016) to take into account amendments to the primary legislation (Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 as amended.

The regulations have an operative date of 1 November 2020. The Solicitors (Money Laundering and Terrorist Financing) Regulations 2016 are revoked.

Solicitors who are currently in compliance with their statutory anti-money-laundering (AML) duties (last updated in November 2018) will already be in compliance with the new Solicitors (Money Laundering and Terrorist Financing) Regulations 2020. These regulations simply reflect current statutory obligations.

Information about relevant AML Supports can be viewed in the November 2020 Gazette.

2018 AML Guidance

Key features include:

• Frequently asked questions about the new Act which supplements the 2010 Guidance Notes
• Optimised for electronic use with bookmarks and search functionality
• Glossary of terms
• Summary of headline impacts of the 2018 Act on solicitor AML duties
• Tips for how to transition to full compliance with the 2018 Act including ‘existing’ clients.

View the 2018 Guidance Notes.

AML and CFT National Risk Assessment 

Ireland has produced its first Anti-Money Laundering and Countering the Financing of Terrorism National Risk Assessment. 

This assessment aims to provide a broad assessment of Money Laundering (ML) and Terrorist Financing (TF) risks in Ireland in order to enhance understanding and develop strategies to deal with such risk. It is to be an “evolving document” as it is will be updated periodically.

For more information, see Department of Finance (Anti-Money Laundering/Counter Terrorism Financing).