Requirements for designated persons and related persons to report suspicious transactions.

42.—(1) A designated person who knows, suspects or has reason
able grounds to suspect, on the basis of information obtained in the
course of carrying on business as a designated person, that another
person has been or is engaged in an offence of money laundering or
terrorist financing shall report to the Garda Síochána and the
Revenue Commissioners that knowledge or suspicion or those
reasonable grounds.

Section 42.-(2) to (10) also covers requirements for designated and related persons to report suspicious transactions and should be carefully read.

It is a matter for each designated person and related persons to familiarise themselves fully with their obligations under the Act.