EUROPEAN COMMISSION CRACKS DOWN ON 5AMLD AND 4AMLD NON COMPLIANCE
May 2nd, 2020
The European Commission has launched a series of infringement procedures for shortcomings in national legislation implementing the European Union’s (EU) fourth and fifth anti-money laundering directives (4AMLD and 5AMLD), including one against Britain, even though it left the bloc on January 31 (but remains subject to EU law during a transitional period to December 31. The Commission on May 14 sent ‘letters of formal notice’ officially opening EU infringement proceedings to the UK plus eight member states - Austria, Belgium, the Czech Republic, Estonia, ...
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