Criminal Justice (Money Laundering and Terrorist Financing) Act 2010

F98[Exchange of financial information or financial analysis

40F

40F. (1) An Article 3(2) authority may share financial information or financial analysis obtained from FIU Ireland, upon request and on a case-by-case basis, with an authority in another Member State that has been designated by that Member State under Article 3(2) of Directive (EU) 2019/1153, where that financial information or financial analysis is necessary for the prevention, detection and combating of money laundering, associate predicate offences and terrorist financing.

(2) Any –

(a) dissemination of financial information or financial analysis obtained by an Article 3(2) authority from FIU Ireland to any other authority, agency or department, or

(b) use of that information or analysis for purposes other than those for which the information was originally provided by FIU Ireland,

shall be subject to the prior consent of FIU Ireland.

(3) An Article 3(2) authority may request from an authority in another Member State that has been designated by that Member State under Article 3(2) of Directive (EU) 2019/1153, on a case-by-case basis, financial information or financial analysis that was obtained from the Financial Intelligence Unit in that Member State, where the financial information or financial analysis is necessary for the prevention, detection and combating of money laundering, associate predicate offences and terrorist financing.

(4) An Article 3(2) authority that receives financial information or financial analysis pursuant to a request under subsection (3) shall use that information or analysis only for the purpose for which it was sought or provided.

(5) FIU Ireland and Article 3(2) authorities shall ensure that financial information and financial analysis requested or shared under this section shall be transmitted using dedicated secure electronic communications ensuring a high level of data security.

(6) In this section "terrorist financing" has the same meaning as it has in Directive (EU) 2019/1153.]

Annotations:

Amendments:

F98

Inserted (2.02.2023) by European Union (Money Laundering and Terrorist Financing) (Use of Financial and Other Information) Regulations 2023 (S.I. No. 22 of 2023), reg. 13.