We have published a new online briefing note on the European Union’s new AML/CFT regime.
Our online briefing note is here.
The new EU AML/CFT regime has arrived – are you ready?
FATF update on FATF Standards on VAs and VASPs
On 9 July 2024, the Financial Action Task Force (FATF) published a report which provides the latest update on jurisdictions’ compliance with FATF’s Recommendation 15 and its Interpretative Note. In 2019 Recommendation 15 was updated to apply anti-money laundering and counter-terrorist financing (AML/CFT) measures to virtual assets (VAs) and
EBA issues ‘travel rule’ guidance
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
EBA welcomes the new EU AML framework
On 26 June 2024, the European Banking Authority (EBA) issued a press release welcoming the entry into force of the new EU anti-money laundering framework.
The press release adds:
- The EBA will retain its anti-money laundering / countering the financing of terrorism (AML/CFT) powers and mandates until December 2025 to minimise
Published in OJ – Directive on cross-border law enforcement access to bank account registries
On 19 June 2024, there was published in the Official Journal of the EU (OJ), Directive (EU) 2024/1654 of the European Parliament and of the Council of 31 May 2024 amending Directive (EU) 2019/1153 as regards access by competent authorities to centralised bank account registries through the interconnection system and technical measures to
Published in OJ – AML Regulation, MLD 6 and AMLA Regulation
On 19 June 2024, there was published in the Official Journal of the EU (OJ),
Council of the EU adopts AML Regulation, AMLA Regulation and AMLD6
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
Council of the EU publishes text of draft terrorist financing Directive
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
Council of EU publishes texts of AML package
On 20 May 2024, the Council of the EU published the text of the:
New EU rules to combat money laundering adopted by MEPs
On 24 April 2024, the European Parliament issued a press release stating that it had adopted the proposed: