On 13 May, Wilmer Hale published an article saying that on 7 May the Commission issued a comprehensive and ambitious Action Plan and public consultation designed to strengthen the EU legal framework to fight against money laundering and terrorist financing, following a wave of recent high-profile money laundering scandals at European banks. The article focuses on the Action Plan’s proposal to establish a new EU-level supervisory and enforcement body to monitor and enforce companies’ compliance with EU AML/CFT legislation. The Action Plan is built on 6 pillars aimed at harmonising EU rules. Available for consultation, respondents have until 29 July to reply.
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