EUROPEAN UNION ACCOUNTANTS FACE NEW DETAILED DEMANDS ON HOW THEY FIGHT MONEY LAUNDERING
April 25th, 2022
Accountants in the European Union (EU) are considering how to manage a more intrusive and proactive legal system fighting money laundering (ML) and terrorist finance (TF) proposed within the new package of AML/CFT reforms proposed by the European Commission last July (2021).
The key impact on accountants would come under the proposed new AML Regulation, an EU legal instrument that must be followed to the letter, rather than giving member states more leeway on implementation, as with past (and continuing) EU AML directives. (1)
The new regulation would clarify ...
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