Proposal for a regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering and terrorist financing

On 20 July 2021, the European Commission proposed a Regulation on the prevention of the use of the financial system for the purposes of money laundering and terrorist financing.

This proposal is a part of a legislative package presented by the European Commission to enhance the AML/CFT rules of the EU. The regulation encompasses inter alia issues regarding the customer due diligence measures, beneficial ownership transparency, internal policies, and procedures of obliged entities.

The file was assigned jointly to the Economic and Monetary Affairs Committee and the Civil Liberties, Justice and Home Affairs Committe. On 25 November 2021 HEINALUOMA Eero and CAREME Damien were appointed as rapporteurs for the file.

The file awaits Committee decision.