The Council of the EU has approved a political agreement with the European Parliament on the proposed Fourth Money Laundering Directive and the proposed Regulation to amend and replace the Regulation on information on the payer accompanying transfer of funds.

The approval will enable adoption of the texts at second reading. Whereas the Regulation will be directly applicable, Member States will have two years to transpose the Directive into national law.

View Money laundering: Council endorses agreement with EP, 10 February 2015