EUROPEAN COMMISSION GETS TOUGH OVER 4AMLD COMPLIANCE
February 1st, 2019
THE EUROPEAN Commission is getting tough in enforcing compliance with the 4th anti-money laundering directive (2015/849), with a large majority of member states now facing infringement proceedings. The European Union (EU) executive said on March 7 that it had sent letters of formal notice opening legal proceedings to six EU countries (the Czech Republic, Hungary, Italy, Slovenia, Sweden, and the UK) over their failure to apply its anti-money laundering and terrorist financing rules. The Commission also sent Austria and the Netherlands reasoned opinions, which is ...
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