EUROPEAN COMMISSION’S AML ACTION PLAN

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.

https://www.wilmerhale.com/en/insights/blogs/WilmerHale-W-I-R-E-UK/20200513-closing-the-door-on-dirty-money-the-european-commissions-antimoney-laundering-action-plan#page=1

 

 

 

If you’d like to help to contribute to the cost of the new laptop and desktop I have had to acquire, now that I am 5,000 miles away from my originals – https://www.buymeacoffee.com/KoIvM842y

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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