ROMANIA AND IRELAND FINED OVER LATE 4AMLD IMPLEMENTATION IN FIRST ECJ DIRTY MONEY LAW FINE
July 2nd, 2020
Member states of the European Union (EU) have for the first time been fined by the European Court of Justice (ECJ) for tardy implementation of European Union anti-money laundering legislation.
The ECJ has fined Romania EUR3 million (USD3.4 million) and Ireland EUR2 million (USD2.3 million) for implementing the European Union’s 4th anti-money laundering directive (4AMLD),more than two years past a June 26, 2017 deadline.
While the amounts are small compared to these countries’ national government budgets, the fines were welcomed by a senior European ...
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