Thursday, 7 February 2013

Europe: protecting the financial system from money laundering and terrorist financing

The European Commission has published a proposal for a Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (see here, pdf) and a Regulation on the information accompanying transfers of funds (see here, pdf). These proposals are designed to improve the current legal framework governing money laundering and funds transfer and reflect recent FATF recommendations. For further information see: Commission press release | FAQs | Impact assessment: complete (pdf) and summary (pdf) |.

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