Europe To Prioritise Money Laundering Reforms After 4th AMLD Woes

The European Commission will prioritise making future anti-money laundering rules directly applicable in all member states, after widespread failures at national level to introduce reforms fully and on time.

Věra Jourová, European commissioner for justice, consumers and gender equality, told the European Parliament in Strasbourg this week that many jurisdictions had still yet to satisfactorily incorporate the 4th Anti-Money Laundering Directive (4th AMLD) into local law.

Member states were supposed to have completed that process by June 2017, but Jourová said that delays and deficiencies meant the commission ended up opening infringement proceedings against every member state.

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