MONEY LAUNDERING: EU COUNCIL ADOPTS CONCLUSIONS ON AN ACTION PLAN FOR ENHANCED MONITORING

An EU news release on 4th December announced that the EU Council has adopted conclusions on an action plan to better tackle money laundering and terrorist financing, and sets out a number of short-term non-legislative actions to address 8 key objectives.  These include identifying the factors that contributed to the recent money laundering cases in EU banks; ensuring effective co-operation between prudential and money laundering supervisors; improving supervision and the exchange of information between relevant authorities.  The action plan is in addition to the changes being made by the 5th AML Directive, and those proposed in the 6th AML Directive, which is currently under discussion.

https://www.consilium.europa.eu/en/press/press-releases/2018/12/04/money-laundering-council-adopts-conclusions-on-an-action-plan-for-enhanced-monitoring/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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