Anti-money laundering: European Commission adopts two proposals to reinforce existing rules on anti-money laundering and fund transfers | Practical Law

Anti-money laundering: European Commission adopts two proposals to reinforce existing rules on anti-money laundering and fund transfers | Practical Law

On 5 February 2013, the European Commission adopted a proposal for a Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, replacing Directive 2005/60/EC (Third Anti-Money Laundering Directive or MLD3). The Commission also adopted a proposal for a Regulation on information accompanying transfer of funds (commonly known as the Wire Transfer Regulation, the Funds Transfer Regulation or the Payments Regulation) .

Anti-money laundering: European Commission adopts two proposals to reinforce existing rules on anti-money laundering and fund transfers

by PLC EU
Published on 11 Feb 2013 • European Union
On 5 February 2013, the European Commission adopted a proposal for a Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, replacing Directive 2005/60/EC (Third Anti-Money Laundering Directive or MLD3). The Commission also adopted a proposal for a Regulation on information accompanying transfer of funds (commonly known as the Wire Transfer Regulation, the Funds Transfer Regulation or the Payments Regulation) .