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MONEYVAL: Fifth Round Evaluation Report on Montenegro 
1 May 2024
Dr. András Csúri Dr. András Csúri in Issue 1/2024
On 1 February 2024, MONEYVAL published its fifth round evaluation report on Montenegro. Even though Montenegro is not an EU Member State, the country uses the EURO as its de facto official currency since 2002, with the banking sector – the country’s most significant … Read more
Council of Europe Money Laundering
Commission’s Report on Fourth AML Directive 
31 March 2024 (updated 2 years, 1 month ago)
Thomas Wahl Thomas Wahl in Issue 1/2024
On 11 March 2024, the European Commission published a report assessing the implementation of Directive 2015/849 – the fourth anti-money laundering Directive (AMLD 4). This assessment was required by Art. 65 of the Directive and takes into account the amendments made by Directive 2018/843 (the … Read more
EU Money Laundering
MONEYVAL: Fifth Round Evaluation Report on Romania 
29 January 2024
Dr. András Csúri Dr. András Csúri
On 18 July 2023, MONEYVAL published its fifth round evaluation report on Romania with the following key findings. In general, the report found that Romania has taken a number of actions to strengthen its legal and institutional AML/CTF framework since the country’s last evaluation in 2014; however, these efforts only show moderate levels of effectiveness in all areas but international cooperation. Read more
Council of Europe Money Laundering Terrorism
MONEYVAL: Fifth Round Evaluation Report on North Macedonia 
29 January 2024
Dr. András Csúri Dr. András Csúri
On 12 July 2023, MONEYVAL published the fifth round mutual evaluation report on North Macedonia. It calls for improvements particularly in the investigation and prosecution of money laundering (ML) and terrorist financing (TF) as well as the financing of proliferation (FP). According to the report, North Macedonia has strengthened its legal framework since the last mutual evaluation and laid the foundation for a sound regime to tackle ML and TF. Read more
Council of Europe Money Laundering Terrorism
MONEYVAL: Typologies Report on ML and TF Risks in the World of Virtual Assets 
29 January 2024
Dr. András Csúri Dr. András Csúri
On 6 July 2023, MONEYVAL published a report on money laundering (ML) and terrorist financing (TF) risks in the world of virtual assets (VA) and their service providers (VASP) in MONEYVAL members states and territories. Read more
Council of Europe Money Laundering Terrorism
MONEYVAL Annual Report for 2022 
29 January 2024
Dr. András Csúri Dr. András Csúri
On 20 June 2023, Moneyval published its annual report for 2022. The report assesses the compliance of the 33 member states and territories (subject to the Committee’s monitoring as of 31 December 2022) with international standards and developments to combat money laundering and countering the financing of terrorism (ML/CFT) in their legal and institutional frameworks. Read more
Council of Europe Money Laundering Terrorism
Operation BELENOS: Illicit Cash Flows Targeted 
8 January 2024 (updated 1 year, 8 months ago)
Thomas Wahl Thomas Wahl in Issue 4/2023
On 16 November 2023, the French Customs Authority and OLAF informed of the results from the joint customs cooperation BELENOS. The Operation targeted illicit flows of cash equal to or in excess of €10,000 entering or leaving the EU, in accordance with Regulation (EU) 2018/1672 … Read more
EU OLAF Money Laundering Customs Cooperation
MEPs Discussed Consequences from "Cyprus Confidential" 
4 December 2023
Thomas Wahl Thomas Wahl
In light of the latest revelations on money laundering and evasion of sanctions against Russia in Cyprus, MEPs discussed counter-measures together with representatives from the Council n and the Commission in a hearing on 22 November 2023. Read more
EU Ukraine conflict Corruption Money Laundering
Spotlight Europol Published First Threat Assessment on Financial and Economic Crime 
16 October 2023
Cornelia Riehle LL.M. Cornelia Riehle LL.M.
At the beginning of September 2023, Europol published a threat assessment on financial and economic crime. It is the first Europol threat assessment report in this criminal area. Under the title “The other side of the coin: an analysis of financial and economic crime in the EU”, the report deals with all financial and economic crimes affecting the EU. Read more
EU Europol Corruption Money Laundering Organised Crime Protection of Financial Interests
AML: Commission Updated List of High-Risk Third Countries 
16 October 2023 (updated 11 months, 2 weeks ago)
Dr. Anna Pingen Dr. Anna Pingen / Thomas Wahl Thomas Wahl in Issue 2/2023
In May and August 2023, the Commission updated the EU list of high-risk third countries with strategic deficiencies in their anti-money laundering and counter-financing of terrorism (AML/CFT) regimes. Currently, 132 jurisdictions worldwide are subject to review and assessments by the EU institutions since their AML/CFT standard is low. Read more
EU Money Laundering Terrorism
2022 EBA Review: Progress in the Fight Against ML/TF 
27 September 2023
Dr. Anna Pingen Dr. Anna Pingen
On 11 July 2023, the European Banking Authority (EBA) published findings from the review it conducted in 2022 on how competent authorities are addressing money laundering and terrorist financing (ML/TF) risks in the banking sector. The EBA regularly conducts these reviews on the basis of … Read more
EU Money Laundering Terrorism
First High-Level Expert Meeting on Money Laundering and Asset Recovery 
25 September 2023
Cornelia Riehle LL.M. Cornelia Riehle LL.M.
On 19 and 20 June 2023, Eurojust organised the first high-level expert meeting on money laundering and asset recovery. It was attended by specialised prosecutors from the EU and from countries with liaison prosecutors at Eurojust as well as by representatives of the European Commission, … Read more
EU Eurojust Money Laundering Freezing of Assets / Confiscation
New Rules for Crypto-Assets in the EU 
25 September 2023 (updated 2 years, 9 months ago)
Dr. Anna Pingen Dr. Anna Pingen in Issue 2/2023
The EU passed new legislation designed to prevent misuse of the crypto industry for the purposes of money laundering and financing of terrorism. Read more
EU Legislation Money Laundering Terrorism
EP Resolution on Lessons from the Pandora Papers 
18 July 2023
Dr. Anna Pingen Dr. Anna Pingen
In a resolution adopted on 15 June 2023, MEPs discuss the lessons learned from the Pandora Papers and other data leaks on tax evasion schemes, and make a series of recommendations to combat tax abuse and money laundering. Read more
EU Money Laundering Tax Evasion
EDPB Urges EU Legislature to Halt Draft on Data Sharing for AML/CFT 
2 May 2023
Dr. Anna Pingen Dr. Anna Pingen
On 4 April 2023, the European Data Protection Board (EDPB) sent letters to the trilogue partners (the European Parliament, the Council, and the European Commission) concerning the envisaged rules on data sharing for anti-money laundering and countering the financing of terrorism (AML/CFT) purposes. The … Read more
EU Money Laundering
ChipMixer Taken Down 
7 April 2023
Cornelia Riehle LL.M. Cornelia Riehle LL.M.
ChipMixer, an unlicensed cryptocurrency mixer, was taken down by German and US authoritieson 15 March 2023, with help from Europol, Belgium, Poland, and Switzerland. The platform, which was set up in 2017, specialised in mixing/cutting trails related to virtual currency assets, making it attractive … Read more
EU Europol Money Laundering