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MONEYVAL: Fifth Round Evaluation Report on Slovakia 
14 January 2021
Dr. András Csúri Dr. András Csúri
On 29 October 2020, MONEYVAL published its fifth round evaluation report on the effectiveness of the Slovak anti-money laundering (AML) and countering the financing of terrorism (CFT) regime and on its level of compliance with FATF Recommendations. MONEYVAL points out that Slovak authorities have a … Read more
Council of Europe Money Laundering
MONEYVAL: Money Laundering and Terrorism Financing Trends during the COVID-19 Crisis 
14 January 2021 (updated 4 years, 5 months ago)
Dr. András Csúri Dr. András Csúri in Issue 3/2020
On 2 September 2020, MONEYVAL published a report outlining general assumptions and preliminary conclusions on threats, vulnerabilities, and best practices identified during the ongoing corona pandemic. The report is based on information received from its members. It aims to assist policymakers, practitioners, and the private … Read more
Council of Europe Money Laundering
MONEYVAL: Follow-Up Report on the Isle of Man 
14 January 2021
Dr. András Csúri Dr. András Csúri
On 23 October 2020, MONEYVAL published its third enhanced follow-up report on the efforts of the Isle of Man to improve its AML/CFT measures based on the fifth round evaluation report adopted in December 2016 (à eucrim 1/2017, 23). MONEYVAL noted the Isle of … Read more
Council of Europe Money Laundering
MONEYVAL: Follow-Up Report on the Czech Republic 
14 January 2021
Dr. András Csúri Dr. András Csúri
On 26 August 2020, MONEYVAL published its first enhanced follow-up report on the efforts of the Czech Republic to improve its AML/CFT measures based on the fifth round evluation report adopted in December 2018 (à eucrim 1/2019, 45.). MONEYVAL noted progress and assigned higher … Read more
Council of Europe Money Laundering
MONEYVAL: Follow-Up Report on Ukraine 
14 January 2021
Thomas Wahl Thomas Wahl
On 28 August 2020, MONEYVAL published its second enhanced follow-up report on the efforts of Ukraine to improve its AML/CFT measures based on the fifth round evaluation report adopted in December 2017 (à eucrim 1/2018, 40-41). MONEYVAL upgraded the Ukraine to “largely compliant” regarding … Read more
Council of Europe Money Laundering
MONEYVAL: Follow-Up Report on Lithuania 
14 January 2021
Dr. András Csúri Dr. András Csúri
On 24 August 2020, MONEYVAL published its first enhanced follow-up report on the efforts of Lithuania to improve its AML/CFT measures based on the fifth round evaluation report adopted in December 2018 (à eucrim 1/2019, 45). Such follow-up reports analyse progress in addressing the … Read more
Council of Europe Money Laundering
No Implementation of 5th AMLD: Commission Acts against Cyprus 
8 December 2020 (updated 5 years, 8 months ago)
Thomas Wahl Thomas Wahl
In October 2020, the Commission sent a reasoned opinion to Cyprus for not having notified any measures for the transposition of the 5th Anti-Money-Laundering Directive (AMLD). The 5th AMLD was adopted in 2018 and further develops the obligations as laid down in the 4th AMLD … Read more
EU Money Laundering
EDPS Takes Position on Commission AML/CFT Action Plan of May 2020 
8 December 2020 (updated 5 years, 8 months ago)
Thomas Wahl Thomas Wahl
In Opinion 5/2020, the European Data Protection Supervisor (EDPS) assesses the data protection implications of several measures proposed in the Commission’s action plan for a comprehensive Union policy on preventing money laundering and terrorism financing (eucrim 2/2020, 87-89). The EDPS welcomes several … Read more
EU Money Laundering
Council Conclusions on AML 
8 December 2020 (updated 5 years, 8 months ago)
Thomas Wahl Thomas Wahl
On 5 November 2020, the Council published conclusions on anti-money laundering and countering the financing of terrorism. The Council mainly encourages the Commission to further elaborate legislative proposals on an EU single rulebook, the structure and tasks of an EU AML/CFT supervisor, and a … Read more
EU Money Laundering
MONEYVAL: Risks and Policies on COVID-19-related Money Laundering and Terrorist Financing 
24 August 2020
Dr. András Csúri Dr. András Csúri
On 12 May 2020, MONEYVAL drew attention to a paper issued by the FATF on risks and policy responses in relation to COVID-19-related money laundering (ML) and terrorist financing (TF).Based on information provided to the members of the FATF Global Network on 7 and … Read more
Council of Europe Money Laundering
MEPs Propose Far-Reaching Measures to Stop Money Laundering 
13 August 2020
Thomas Wahl Thomas Wahl
High-quality, interconnected registers of beneficial ownership, a preventive blacklisting policy, effective sanctions and beefed-up EU supervision – these are the main requests from MEPs as set out in the resolution “A comprehensive Union policy on preventing money laundering and terrorist financing.” The resolution was adopted … Read more
EU Money Laundering
Romania and Ireland Must Pay for Not Having Implemented 4th AML Directive 
13 August 2020
Thomas Wahl Thomas Wahl
On 16 July 2020, the CJEU upheld the Commission’s application that Romania and Ireland had infringed their obligation under the EU Treaties by not having transposed the fourth Anti-Money Laundering Directive (Directive 2015/849) in time. Romania and Ireland neither adopted the national measures transposing the … Read more
EU Court of Justice of the European Union (CJEU) Money Laundering
ECA Announces AML Audit 
3 August 2020
Thomas Wahl Thomas Wahl
On 11 June 2020, the European Court of Auditors (ECA) provided information on an upcoming audit on the effectiveness of the EU’s anti-money laundering policy in the banking sector. The audit follows plans by the Commission, the Council, and the European Parliament to review and … Read more
EU Money Laundering Tax Evasion
Commission Issues New List of High-Risk Third Countries 
3 August 2020 (updated 2 years, 10 months ago)
Thomas Wahl Thomas Wahl in Issue 2/2020
Alongside a refined methodology for identifying third countries with strategic deficiencies in their AML/CFT frameworks (high-risk third countries → related link), the Commission adopted a new list of these countries on 7 May 2020. The list is a last resort for the EU, but required … Read more
EU Money Laundering
Commission’s Refined Methodology for Identifying High-Risk Third Countries 
3 August 2020 (updated 11 months, 2 weeks ago)
Thomas Wahl Thomas Wahl
By means of the Staff Working Paper SWD(2020) 99 final) of 7 May 2020, the Commission presented a refined and more transparent methodological approach by which to identify high-risk third countries with strategic deficiencies in their regime on anti-money laundering and countering terrorist financing. The … Read more
EU Money Laundering
Spotlight Action Plan on Preventing Money Laundering: Six Pillars 
3 August 2020 (updated 5 years, 8 months ago)
Thomas Wahl Thomas Wahl in Issue 2/2020
EU action against money laundering and terrorist financing must be ambitious and multifaceted. This is the main line of argumentation in the Commission Action Plan for a comprehensive Union policy on preventing money laundering and terrorist financing (Communication C(2020) 2800 final). The Action … Read more
EU Area of Freedom, Security and Justice Money Laundering