European Firms Challenged Over Third Country AML Risk

Financial institutions headquartered in Europe but operating elsewhere face “significant” consequences if they do not identify conflicts between EU laws on anti-money laundering (AML) and those in third countries where they operate.

New regulatory technical standards (RTS), which came into force on September 3, instruct firms subject to the EU’s 4th Anti-Money Laundering Directive (4th AMLD) to adopt group-wide AML and counter-terrorist financing (CTF) policies.

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