European Commission seeks feedback on AML Action Plan

Industry News | 12/02/20

The European Commission is seeking feedback on its Action Plan on anti-money laundering (AML). The Action Plan follows a July 2019 analysis that showed that the EU legal framework with regard to AML needs to be enhanced. In particular, the Action Plan addresses the current minimum harmonisation approach, which has resulted in 28 different national AML frameworks, with the differences creating loopholes in the EU-wide preventative framework. Feedback is sought by 11 March 2020.