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EU Issues Warnings to 15 Countries Slow to Adopt AML Rules
By Brian Monroe
printFifteen European Union member states aren't scrambling to comply with European Commission efforts pressuring them to hasten adoption of anti-money laundering rules, said compliance professionals. Last week, EU Internal Market Commissioner Charlie McCreevy sent 15 countries letters threatening "expeditious legal action" if they didn't transpose the EU's Third Money Laundering Directive into law after missing a December 2007 deadline. The countries –Austria, Belgium, Czech Republic, France, Germany, Greece, Ireland, Latvia, Luxembourg, Malta, Netherlands, Poland, Slovakia, Spain, Sweden– have not yet responded to the letters, which are the first step before formal legal proceedings that could result in monetary or other...
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