On Tuesday 28 March the AML Package – a legislative package on anti-money laundering (AML) and countering terrorist financing (CFT) – is on the agenda of the Committee on Economic and Monetary Affairs (ECON) and the Committee on Civil Liberties, Justice and Home Affairs (LIBE) of the European Parliament.
This package, proposed in July 2021 by the European Commission, is interesting because the proposal contains anti-crime measures that may violate fundamental rights of European citizens and that will create expensive bureaucracy that is impractical and ineffective and will favour large corporations.
On 7 December 2022 the EU Council announced it has reached agreement on its position on the AML Package.
No democratic watchdogs are looking into the proposals
It is amazing that in the Dutch media there is no coverage of this legislative package that is so far-reaching and so poorly thought through. It shows that the so-called watchdog of democracy has no interest in topics of which there is no easy catchy story to be made.
More information:
On the ECON/LIBE meeting:
Some introductory articles on the AML package on this blog:
- Violation of data protection principles and discrimination.
- EU’s Iron Fist – Europe authoritarianly steamrolls over national supervisors and obliged entities.
- Revision of beneficial ownership rules in AMLR.
- Addition of non-bank lenders to the European AML/CFT regime | EBA advice on non-bank lending.
More information on the AML package:
- Introduction on this blog (updated until 30 May 2022).
- Blog posts on the AML package.
Ellen Timmer - juridische artikelen en berichten 