The European Commission (Commission) has adopted Commission Delegated Regulation (EU) …/… of 13 December 2017 amending Delegated Regulation (EU) 2016/1675 supplementing the Fourth Money Laundering Directive (4MLD).
The Commission Delegated Regulation makes amendments to the table in point I of the Annex to Delegated Regulation (EU) 2016/1675 by adding Sri Lanka, Trinidad and Tobago and Tunisia to the list of jurisdictions that the Commission considers have strategic deficiencies in their anti-money laundering (AML) / counter financing of terrorism (CFT) regime.
The Commission further explains that it is currently working on a new methodology to identify high-risk third countries that does not rely only on external information sources to identify jurisdictions presenting strategic deficiencies in tackling money laundering and financing of terrorism. The methodology will clarify the process for carrying out the assessment, the listing criteria and the follow-up procedure including the involvement of Member States’ experts and engagement with the European Parliament throughout the process. The Commission will engage with the European Parliament and the Council of the EU regarding the establishment of the methodology once the listing criteria in Article 9 of the 4MLD, which is currently being re-negotiated, are finalised. Pending the final outcome of the revision of Article 9, the Commission is committed to consider relevant AML and CFT criteria when making its assessment based on the new methodology, including the availability and information exchange on beneficial ownership information. The Commission expects to adopt a Delegated Regulation based on this new methodology by the end of 2018.
The next step is for the Council of the EU and the European Parliament to consider the Delegated Regulation. If neither objects to the Delegated Regulation, it will be published in the Official Journal of the EU (OJ) and will enter into force and will apply 20 days after its publication in the OJ.
View Commission Delegated Regulation (EU) …/… of 13 December 2017 amending Delegated Regulation (EU) 2016/1675 supplementing Directive (EU) 2015/849 of the European Parliament and of the Council, as regards adding Sri Lanka, Trinidad and Tobago and Tunisia to the table in point I of the Annex, 13 December 2017