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The European Union's newly adopted anti-money laundering and counter-terrorist financing package represents a significant evolution in financial crime prevention, introducing a harmonised rulebook that expands the range of entities required to comply with AML/CTF obligations. This comprehensive analysis examines how the Package transforms the regulatory landscape for obliged entities across EU member states, comparing the new requirements against both the previous EU directive framework and existing domesti
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The European Union has long been at the forefront of the fight against money laundering and terrorism financing, adopting successive legislative measures to safeguard the integrity of its financial system. The recently adopted anti-money laundering/counter terrorist financing (AML/CTF) package (the Package) marks the latest milestone in that effort. In particular, this new Package broadens the scope of obliged entities which have to abide by the new EU harmonised rulebook.
The attached document sets out the changes brought about by the entry into force of the AML Package with respect to obliged entities compared to the previous EU regime under the AML/CTF directive and, for each member state, compared to the current domestic framework.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
