Anti-Money Laundering

We have published a new online briefing note on the European Union’s new AML/CFT regime.

Our online briefing note is here.  

On 4 July 2024, the European Banking Authority (EBA) issued new guidelines on the ‘travel rule’.

The EBA publicly consulted on a draft version of the guidelines between 24 November 2023 and 26 February 2024. A public hearing took place on 17 January 2024.

The guidelines specify which information should accompany a transfer

On 30 May 2024, the Council of the EU announced that it has adopted a package of new anti-money laundering (AML) rules aimed at protecting EU citizens and the EU’s financial system against money laundering and the financing of terrorism.

The package of legislation consists of:

  • A Regulation on the prevention of the

On 23 May 2024, the Council of the EU published the text of a draft Directive amending Directive (EU) 2019/1153, as regards access by competent authorities to centralised bank account registries through the interconnection system and technical measures to facilitate the use of transaction records.

The proposed amendment to Directive (EU) 2019/1153 would allow designated

On 28 March 2024, the Financial Action Task Force (FATF) published a table setting out the status of the implementation of Recommendation 15 by FATF members and other jurisdictions with the most materially important virtual asset service provider activity. The table follows a stocktake of current levels of implementation across the global network.

On 13 March 2024, the Council of the EU published the text of the draft Directive amending the Bank Recovery and Resolution Directive and the Resolution establishing the Single Resolution Mechanism as regards certain aspects of the minimum requirement for own funds and eligible liabilities. The draft Directive is sometimes known as the ‘daisy-chain proposal’.

On 12 March 2024, the European Commission (Commission) published a letter containing a provisional request for advice from the European Banking Authority (EBA), regarding regulatory technical standards and guidelines under the future anti-money laundering (AML) and counter terrorist financing (CFT) framework. The request for technical advice is

On 12 March 2024, the Financial Action Task Force (FATF) published guidance on beneficial ownership and transparency of legal arrangements.

The guidance, which is non-binding, aims to assist stakeholders from public and private sectors that regulate, supervise, enforce, form, manage, or administer trusts or similar legal arrangements. It focuses on the Recommendation 25 requirements and