AMLD COMPLIANCE LACKING AS EU STRIKES DEAL ON NEW RULES
January 1st, 2018
THE EUROPEAN Union’s (EU) fourth anti-money laundering directive (4AMLD - 2015/849) was hailed as major step forward in combatting money laundering when it was adopted in May 2015, but member states are dragging their feet on compliance, just as the bloc moves towards adopting its fifth update.
Indeed, 17 member states – over half – had failed to implement the 4AMLD by the June 26, 2017, deadline, prompting the EU’s executive European Commission to send formal warning letters the following month, giving them two months to put their houses in order. The ...
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