AML package

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