News

Five of the 15 European Union countries chastised by the EU Commission for not adopting anti-money laundering directives quickly enough could have those issues resolved by the end of the year, according to published reports and analysts. Three countries – Luxembourg, Malta and the Netherlands – passed the EU's Third Money Laundering Directive into law in the past month, a response to "warning letters" sent in July threatening legal action from the EU Commission or sanctions from the European Court of Justice. France and Ireland are expected to follow suit by December with the remainder of countries likely to put...