The European Commission has this week published its long-awaited anti-money laundering and countering terrorist financing (AML/CTF) package. Fragmented and differentiated implementation of EU-wide rules have led to significant obstacles to cross-border service provision and effective enforcement of EU AML/CTF rules. National competent authorities currently apply the rules differently, thus creating different standards for companies to follow depending on the regions they operate in. This fragmentation is the main issue the AML/CTF package adopted this week has tried to resolve.

Click here to view Cicero/amo’s overview of the new EU AML package.

I do hope you find this of use and please do get in touch if you would like to discuss further.