AI Summary of 40A. State Financial Intelligence Unit.
FIU Ireland is empowered to perform the functions of an EU Financial Intelligence Unit under the Fourth Money Laundering Directive and Directive (EU) 2019/1153. This responsibility includes the analysis of financial data to combat money laundering and terrorist financing on behalf of the State.
According to the Policing, Security and Community Safety Act 2024, FIU Ireland comprises appointed members of the Garda Síochána and staff. It encompasses key terms from Directive (EU) 2019/1153, including 'associate predicate offences' and 'serious criminal offences', ensuring alignment with EU regulatory standards.
40A. State Financial Intelligence Unit.
(1)FIU Ireland may carry out, on behalf of the State, all the functions of an EU Financial Intelligence Unit (FIU) under the Fourth Money Laundering Directive and Directive (EU) 2019/1153.
(2) In this Part "FIU Ireland" means those members of the Garda Síochána, or members of garda staff (within the meaning of the Policing, Security and Community Safety Act 2024), appointed by the Commissioner of the Garda Síochána in that behalf.
(3) In this Chapter the following have the same meaning as they have in Directive (EU) 2019/1153:
(a) associate predicate offences;
(b) financial analysis;
(c) financial information;
(d) serious criminal offences.