EU PUSHING AHEAD WITH PLANS TO REPLACE 4 AND 5AMLD WITH ‘SINGLE RULEBOOK’ REGULATION
October 2nd, 2020
THE EUROPEAN Commission is moving ahead with its plans to replace the European Union’s (EU) long-standing system of anti-money laundering directives – which give member states some flexibility over implementation – with a compulsory AML regulation. This will be directly applicable in all member states and must be followed to the letter.
The Commission, in announcing its 2021 work programme (released in October), has said it will start active steps to replace the EU’s fifth anti-money laundering directive (5AMLD) less than a year after it came into force ...
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