FRANCE AND GERMANY FACING LEGAL ACTION OVER AML FAILINGS
March 1st, 2019
BOTH France and Germany are facing legal action by the European Commission over their failure to implement the European Union’s (EU) 2015 fourth anti-money laundering directive (AMLD – 2015/849) correctly.
While both countries have written the legislation into national law, the EU’s executive has concluded that certain provisions are missing. On January 24 (2019), the Commission said that it was sending Germany a letter of formal notice, which officially opens EU legal proceedings. France is further down the track, having received a reasoned opinion, the ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.