Full speed ahead on the Fourth Anti-Money Laundering Directive

Full speed ahead on the Fourth Anti-Money Laundering Directive

By Irina Nechifor

On 2 February 2016, the EU Commission announced its Action Plan to strengthen the fight against terrorist financing.

Following a recent trend of delayed developments and potential push-backs in the implementation of various financial services related legal initiatives, the EU Commission announced, with a sense of urgency, that it intends to act swiftly on amending the Fourth Anti-Money Laundering Directive (AMLD 4), and urged Member States to bring forward the date for effective transposition and entry into force of AMLD 4 by the end of 2016 at the latest.

As requested during the extraordinary Justice and Home Affairs Council meeting on 20 November 2015, the Commission confirmed its plan to start developing a number of proposals that will amend and extend the following features of AMLD 4:

  • Enhance due diligence measures/counter-measures to be take

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