FINANCE MINISTERS BACK PLAN FOR EU-WIDE AML LAW AND SUPERVISOR
October 2nd, 2020
EUROPEAN Union (EU) finance ministers today (Nov 4) gave support to plans to create an EU-wide anti-money laundering (AML) supervisor and harmonised EU laws to tackle the crime.
The European Commission announced in May that it plans to create “a single EU rulebook” to tackle money laundering and terrorism financing, with more reliance on a mandatory regulation than more flexible directives and a new coordination mechanism for national Finance Intelligence Units (FIU). The draft legislation is due to appear early next year, and will need the EU Council of ...
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