AML: 4th Anti-Money Laundering Directive

In a press release of 26 June the European Commission informs the public that on that day the 4th Anti-Money Laundering Directive today has entered into force:

New EU rules to strengthen the fight against money laundering, tax avoidance and terrorism financing enter into force
The Juncker Commission has made the fight against tax avoidance, money laundering and terrorism financing one of its priorities. Today, the Fourth Anti-Money Laundering Directive enters into force. It strengthens the existing rules and will make the fight against money laundering and terrorism financing more effective. It also improves transparency to prevent tax avoidance. This entry into force comes as discussions with the European Parliament and the Council on extra measures further reinforcing the Directive are already at an advanced stage. Frans Timmermans, European Commission First Vice-President said: “Laundered money is oxygen to crime, terrorism and tax-avoidance. We need to cut off its supply as best we can. Today’s stronger rules are a big step forward but we now need quick agreement on the further improvements the Commission proposed last July.” Věra Jourová, Commissioner for Justice, Consumers and Gender Equality added: “Terrorists and criminals still find ways to finance their activities and to launder illicit gains back into the economy. The new rules as of today are crucial to closing further loopholes. I urge all Member States to put them in place without delay: lower standards in one country will weaken the fight against money laundering and terrorist financing across the EU.” Today the Commission also publishes a report which will support Member State authorities in better addressing money laundering risks in practice. It identifies the areas most at risk and the most widespread techniques used by criminals to launder illicit funds. A full press release is available here.

The Member States should have notified the transposition of the 4th Anti-Money Laundering Directive by 26 June 2017. The European Commission will check the state of the transposition and follow up swiftly with Member States in case they have not taken the necessary measures yet.

The Netherlands is one of the countries that is too late with transposition.

Regarding the proposed amendments the full press release says:

The proposal is currently in negotiations in the Council and the European Parliament and is expected to be adopted in the course of 2017.

Over Ellen Timmer, advocaat ondernemingsrecht @Pellicaan

Verbonden aan Pellicaan Advocaten,, kantoor Rotterdam, telefoon 088-6272287, fax 088-6272280, e-mail ||| Weblogs: algemeen: || modernisering ondernemingsrecht: ||| Motto: goede bedoelingen rechtvaardigen geen slechte regels
Dit bericht werd geplaatst in English - posts in English on this blog, Europa, Fraude, witwasbestrijding, Wwft en getagged met , , . Maak dit favoriet permalink.

Geef een reactie

Vul je gegevens in of klik op een icoon om in te loggen. logo

Je reageert onder je account. Log uit /  Bijwerken )

Google photo

Je reageert onder je Google account. Log uit /  Bijwerken )


Je reageert onder je Twitter account. Log uit /  Bijwerken )

Facebook foto

Je reageert onder je Facebook account. Log uit /  Bijwerken )

Verbinden met %s