Ireland Criminal Justice Act (CJA) Framework
We have added comprehensive support for the Ireland Criminal Justice Act framework to Cable’s automated control testing platform. Irish-regulated financial institutions can now automate compliance testing across all CJA requirements, ensuring continuous adherence to anti-money laundering and counter-terrorist financing obligations.
Key Features:
- Customer Due Diligence: Automated testing for identity verification, beneficial ownership identification, and risk-based customer assessments required under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010.
- Enhanced Due Diligence: Comprehensive coverage for testing controls related to high-risk customers, including politically exposed persons (PEPs) and customers from high-risk jurisdictions.
- Beneficial Ownership Verification: Automated controls to verify compliance with Ireland’s Central Register of Beneficial Ownership requirements and beneficial ownership disclosure obligations.
- Suspicious Transaction Reporting: Testing of processes for identifying and reporting suspicious activities to the Financial Intelligence Unit (FIU) Ireland through the GoAML system.
This framework enables banks and fintechs subject to Irish financial regulations to achieve continuous, automated compliance testing, moving beyond sampling-based approaches to comprehensive control effectiveness validation.