As the EU nears final adoption of its latest anti-money laundering directive, questions remain over how nations and companies will implement the plan, the head of an industry advisory group said Thursday. The Joint Money Laundering Steering Group (JMLSG) is slated to release guidance designed to address perceived "ambiguity" and other potential flaws in the latest iteration of the directive, the group's Executive Secretary David Swanney said in a panel at the ACAMS 11th Annual AML & Financial Crime Conference Europe. The EU Parliament this month officially endorsed the directive, which requires bloc members to scrutinize domestic political figures, identify...
Factions within the European Union reached a compromise Tuesday on the terms of the long-awaited Fourth Anti-Money Laundering Directive, including provisions to create central registers on the ultimate beneficial owners of corporate and other legal entities, as well as trusts in every member state.
The EU Parliament adopted final recommendations Wednesday that would establish a public prosecutor's office and require member nations to ascertain the beneficial owners of companies incorporated within their jurisdictions.
The European Commission unveiled proposals Tuesday for a Fourth Anti-Money Laundering Directive that would require greater disclosures of beneficial ownership and increased scrutiny of domestic politicians, among other changes.
Europe's financial intelligence units are asking the European Commission for uniformity in their ability to suspend suspicious transactions under a forthcoming anti-money laundering directive, a Dutch official said Monday.