On 20 July 2021, the European Commission (Commission) released an ambitious package of legislation in order to strengthen and harmonize measures on anti-money laundering and the countering of terrorism financing (AML/CFT) across the European Union (EU).
This package includes proposals for: a new EU Directive which will repeal and replace the current 4th and 5th AML/CFT Directives, an EU Regulation which will repeat and enhance most of the requirements contained at Directive level, an EU Regulation which will create an AML/CFT authority at EU level and an EU Regulation which will repeal and replace the current EU Directive 2015/847 on information accompanying transfers of funds and provide for an extension to crypto assets and their service providers.
Article extrait de la Revue Pratique de Droit des Affaires, n ° 13