EU MINISTERS GREENLIGHT COMMISSION TO DRAFT LAW CREATING NEW EU AML AUTHORITY
December 1st, 2019
THE EUROPEAN Union (EU) Council of Ministers has invited the European Commission “to present legislative proposals” on creating an EU anti-money laundering/combating the financing of terrorism (AML/CFT) body and tightening the harmonisation of AML/CFT rules across the EU. A comprehensive policy document, signalling a likely shift in authority over AML/CFT powers from EU member states to central EU institutions, highlighted how a central EU AML institution might work. These detailed ‘council conclusions’ approved today (Dec 5) told the Commission ...
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