The European Parliament has recently adopted a package of laws strengthening the EU’s toolkit to fight money-laundering and terrorist financing. The Anti-Money Laundering and Countering the Financing of Terrorism package consists of a directive and two regulations. These are the sixth Anti-Money Laundering directive, the EU “single rulebook” regulation and the Anti-Money Laundering Authority (AMLA) regulation. Click here for a press release from the European Parliament on the package and here to access the Institute’s dedicated pages on anti-money laundering which have recently been updated to include a page dedicated to European Union developments.
We understand from the press release that the laws still need to be formally adopted by the European Council before publication in the EU’s Official Journal. There will also be a process of translation of text and the expectation is that publication of the text will occur in the Official Journal between July and September of 2024.
This information is provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.