AML package

Page published in May 2022 and not yet updated

The ‘AML package’ as announced by the European Commission and now being debated by the European Parliament (EP), will drastically change the European anti-money laundering (AML) and anti-terrorist financing (CFT) landscape and potentially affect the fundamental rights of citizens, read this article. Posts on this blog on the package: AML Package.

The AML package consists of the following drafts:

 

AMLAR, the regulation regarding the new AML/CFT authority, Authority for Countering Money Laundering and Financing of Terrorism (AMLA),

• Draft European Commission COM/2021/421
• Procedure file EP 2021/0240(COD)
• Draft opinion 16 March 2022 Committee on Budgetary Control (CONT) pdf – doc; rapporteur José Manuel Fernandes, deadline for tabling amendments 6 April 2022
• Amendments 31-79 draft opinion BUDG pdf – doc
• Amendments 39-152 draft opinion CONT pdf – doc
• Opinion 18 May 2022 CONT pdf – doc
• Amendments 49-196 draft opinion Committee on Constitutional Affairs (AFCO) pdf – doc
• Draft report ECON LIBE 17 May 2022 pdf – doc; rapporteurs: Luis Garicano, Emil Radev

AMLAR is on the ECON LIBE agenda of 14 June 2022, read this post.
Posts on this blog: Authority for Countering Money Laundering and Financing of Terrorism (AMLA).

 

AMLR, the new AML/CFT regulation,

• Draft European Commission COM/2021/420
• Procedure file EP 2021/0239(COD)
• Draft report ECON LIBE 15 March 2022 pdf – doc, rapporteurs: Eero Heinäluoma and Damien Carême; deadline for tabling amendments 31 Marc 2022

Posts on this blog: Anti-Money Laundering Regulation.

 

AMLD6, the 6th AML/CFT directive with rules for the member states of the EU,

• Draft European Commission COM/2021/423
• Procedure file EP 2021/0250(COD)
• Draft report ECON LIBE 18 May 2022 pdf – doc, rapporteurs: Luděk Niedermayer, Paul Tang; deadline for tabling amendments 16 June 2022
• Agenda ECON LIBE 2 June 2022

Posts on this blog: AMLD6, Anti-Money Laundering Directive.

 

The regulation on information accompanying transfers of funds and certain crypto-assets,

• Draft European Commission COM/2021/422
• Procedure file EP
• Opinion 2 March 2022 JURI pdf – doc
• Report ECON LIBE 6 April 2022 pdf – doc

 

OTHER EUROPEAN INFORMATION

European Commission:

• Announcement European Commission, 20 July 2021.

European Central Bank:

• Opinion of 16 February 2022.

European Parliamentary Research Service:

• The proposed Anti-Money Laundering Authority, FIU cooperation, powers and exchanges of information, Silvia ALLEGREZZA, July 2022.
• Briefing AML package 20 December 2021.
• Preventing money laundering in the banking sector – reinforcing the supervisory and regulatory framework. In-Depth Analysis 30 September 2021.
• Briefing AML package 29 March 2021.
• All AML-documents by EPRS.

 

FUNDAMENTAL RIGHTS

Dataprotection

• European Data Protection Board (EDPB) 20 May 2022: announcement, file 1, file 2, file 3.
• European Data Protection Supervisor (EDPS) 24 September 2021, opinion on the anti-money laundering and countering the financing of terrorism (AML/CFT) package of legislative proposals: announcement, opinion. All AML opinions are found here.
• European Data Protection Board (EDPB) 19 May 2021, EDPB letter to the European Commission on the protection of personal data in the AML-CFT legislative proposals: announcement, letter.

Read my article Violation of data protection principles and discrimination of 30 March 2022.

Other fundamental rights
(like prevention of de-risking and protecting SMEs and assessment of legal remedies against guidelines, RTS and other legislation by AMLA and European Commission):

not covered.

 

Articles on this blog

On the AML package I have amongst others written:

• Violation of data protection principles and discrimination | part 1 of Horrors of European legislation against crime (AML/CFT).
• Revision of beneficial ownership rules in AMLR | part 3 of Horrors of European legislation against crime (AML/CFT).
• EU’s Iron Fist – Europe authoritarianly steamrolls over national supervisors and obliged entities | AML package, AML, CFT.
• Addition of non-bank lenders to the European AML/CFT regime | EBA advice on non-bank lending.
• All articles on the AML package on this blog.

 

This page is updated until 30 May 2022 and may be incomplete