What the EU is doing and why
It is essential that gatekeepers (banks and other obliged entities) apply measures to prevent money laundering and terrorist financing. Traceability of financial information has an important deterrent effect.
The European Commission carries out risk assessments in order to identify and respond to risks affecting the EUinternal market.The European Union adopted robust legislation to fight against money laundering and terrorist financing (AML). The first anti-money laundering Directive was adopted in 1990 in order to prevent the misuse of the financial system for the purpose of money laundering. It provides that obliged entities shall apply customer due diligence requirements when entering into a business relationship (i.e. identify and verify the identity of clients, monitor transactions and report suspicious transactions).
The EUlaws have been constantly revised in order to mitigate new risks relating to money laundering and terrorist financing.
The legislative framework not only covers a range of areas posing such risks, including virtual assets and crowdfunding, but also complements other regulations such as Markets in Crypto-Assets Regulation (MiCA).
The new Regulation on the Traceability of Transfers of Funds (TFR) ensures the traceability of crypto-assets transfers and the authentication of users, aligning with FATF standards. It will apply as of December2024.
The Commission ensures effective application of this legislation by reviewing transposition of EUlaw and cooperating with competent authorities.
AML explained
EU Finance Podcast
Episode 5 - The one about AMLA
Stronger EU AML rules
Factsheet on fighting financial crime
Anti-money laundering
Finance news hub article
YouTube video
Policy making timeline
24 April 2024
European Parliament plenary votes on the reports on Anti-money laundering and countering the financing of terrorism legislative package
Latest update on the legislative package on Anti-money laundering and countering the financing of terrorism
22 March 2024
Report - AMLD IV
Publication of a report from the Commission to the European Parliament and the Council on the implementation of the 4thAnti-Money Laundering Directive
- Text of the report
- Staff working document accompanying the report
- Study by the Council of Europe on the assessment of the concrete implementation and effective application of the 4th Anti-Money Laundering Directive in the European Union
- Text of the report
22 February 2024
Seat selection procedure - AMLA
Political agreement between the European Parliament and the Council on the location of the seat of AMLA in Frankfurt.
Read the remarks by Commissioner McGuinness at the press conference on the selection of the AMLA seat.
18 January 2024
Legislation - Financial crime
Political agreement between the European Parliament and the Council on Commission's package of legislative proposals to strengthen the EU’s anti-money laundering and countering the financing of terrorism (AML/CFT) rules.
10 January 2024
Seat selection procedure - AMLA
Commission submitted its assessments of the applications to host AMLA.
18 December 2023
Call for application - AMLA
Political agreement reached by co-legislators on the procedure to select the seat for AMLA.
13 December 2023
Legislation - AMLA
Political agreement between the European Parliament and the Council on Commission's proposal to establish an EUAuthority for Anti‑Money Laundering and Countering the Financing of Terrorism (AMLA).
10 November 2023
Call for application - AMLA
The call for applications to Member States came to an end, with applications for the selection of the seat of AMLA received from 9countries.
28 September 2023
Call for application - AMLA
At the request of the co-legislators, which have agreed on the selection criteria, the Commission has launched a call for applications to Member States for the selection of the seat of AMLA.
Deadline: 10November2023
27 October 2022
Staff working document - Public-private partnerships
Commission staff working document on the use of public-private partnerships in the framework of preventing and fighting money laundering and terrorist financing.
29 June 2022
Legislation - Transfer of Funds Regulation
Political agreement reached by co-legislators on Commission's proposal to amend the Transfer of Funds Regulation (TFR).
The agreement provides for an obligation for all crypto service providers involved in crypto transfers to collect data on the originators and beneficiaries of the crypto-assets transfers they operate, and make them available to the competent authorities in charge of the fight against money laundering and terrorism financing.
22 February 2022
Manuals - Financial crime
The European Commission presented a trainers’ manual and its corresponding user’s manual for those who train lawyers on anti-money laundering (AML) and counter terrorist financing (CTF) rules at EUlevel.
20 July 2021
Legislative proposal - Financial crime
The European Commission presented an ambitious package of legislative proposals to strengthen the EU’s anti-money laundering and countering the financing of terrorism (AML/CFT) rules. The package harmonises AML/CFT rules across theEU. It also proposes the creation of a new EUauthority to fight money laundering (AMLA).
16 September 2020
Report - Trusts and similar legal arrangements
The European Commission adopted a report assessing whether Member States have duly identified and made subject to the obligations of Directive (EU) 2015/849 all trusts and similar legal arrangements governed under their laws. Directive (EU) 2015/849 (the 5th anti-money laundering Directive) indeed extended to trusts and similar legal arrangements the transparency rules and obligations applicable to legal entities, requiring Member States to identify and notify trusts or trust-like arrangements governed under their legal framework.
7 May 2020
Action plan - Financial crime
The European Commission adopted an action plan for a comprehensive Union policy on preventing money laundering and the financing of terrorism built on six pillars. To gather the views of citizens and stakeholder on these measures, the Commission launched a public consultation in parallel to the adoption of this action plan.
24 July 2019
Communication - Financial crime
The European Commission adopted a Communication entitled ‘Towards better implementation of the EU's anti-money laundering and countering the financing of terrorism framework’ accompanied by 4reports.
8 November 2018
Opinion - Malta
Commission opinion of 8 November 2018 addressed to the Financial Intelligence Analysis Unit of Malta, based on Article 17(4) of Regulation (EU) No 1093/2010, on the action necessary to comply with Union law.
12 September 2018
Communication - Anti-money laundering supervision
Communication on strengthening the Union framework for prudential and anti-money laundering supervision, including targeted changes to the three Regulations establishing the Supervisory Authorities.
9 July 2018
Legislation - AMLD V
Entry into force of the 5th Anti-Money Laundering Directive (Directive (EU) 2018/843), which amends the 4th Anti-Money Laundering Directive.
These amendments introduced substantial improvement to better equip the Union to prevent the financial system from being used for money laundering and for funding terrorist activities.
These amendments were introduced to
- enhance transparency by setting up publicly available registers for companies, trusts and other legal arrangements
- enhance the powers of EU Financial Intelligence Units, and provide them with access to broad information for the carrying out of their tasks
- limit the anonymity related to virtual currencies and wallet providers, but also for pre-paid cards
- broaden the criteria for the assessment of high-risk third countries and improve the safeguards for financial transactions to and from such countries
- set up central bank account registries or retrieval systems in all Member States
- improve the cooperation and enhance of information between anti-money laundering supervisors between them and between them and prudential supervisors and the European Central Bank
See also the Factsheet on the main changes of the 5th anti-money laundering Directive
26 June 2017
Guidelines - ESAs
Publication of the final guidelines on anti-money laundering and countering the financing of terrorism by the Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs).
25 June 2015
Legislation - AMLD IV
Entry into force of the 4th Anti-Money Laundering Directive (Directive (EU) 2015/849).
Relevant legislation
Related links
Authority for Anti‑Money Laundering and Countering the Financing of Terrorism (AMLA)
