A research briefing from the EU Parliament Research Service on 20 December said that in July the European Commission presented a package of legislative proposals in the area of AML/CFT. The package includes a proposal for a Regulation on preventing the use of the financial system for money laundering or terrorist financing.
EU IMPACT ASSESSMENT: AML PACKAGE
Also on 20 December, the EU Parliament Research Service published this document which covers 4 EU Commission proposals on AML/CFT. The legislative package includes major changes designed to strengthen and tackle shortcomings in the current regulatory framework, such as the creation of a new AML authority. This document analyses the strengths and weaknesses of the impact assessment accompanying the proposed revisions. The Commission consulted a wide range of stakeholders to support the initiative.
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