On 12 February 2020, the European Commission (Commission) published a press release outlining the key infringement decisions it has taken in February 2020.
Among other things, the Commission has sent letters of formal notice to 8 member states urging them to transpose the Fifth Anti-Money Laundering Directive (5MLD). The member states are: Cyprus, Hungary, the Netherlands, Portugal, Romania, Slovakia, Slovenia and Spain. All member states had to implement the 5MLD’s rules by 10 January 2020.
The Commission states that without a satisfactory response from these member states within 2 months, the Commission may decide to send them reasoned opinions (a formal request to comply with EU law). If the member states continue not to comply, the Commission may decide to refer the matter to the European Court of Justice.