Luxembourg has been referred to the Court of Justice of the European Union for its failure to fully transpose critical European anti-money laundering (AML) legislation, a year after the official deadline.
Member states were expected to have incorporated the 4th Anti-Money Laundering Directive (4th AMLD) into their national regulatory framework by June 26 last year.
Luxembourg now joins Greece, Romania and Ireland in having been referred to the EU’s top court for failing to transpose the directive in time.
The European Commission also announced on Thursday that Estonia and Denmark had been sent a reasoned opinion and a letter of formal notice respectively.
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