29 March 2014 — News
The Third Anti-Money Laundering (AML) Directive sets out a framework which is designed to protect the financial system against the risks of money laundering and terrorist financing and is to a large extent based on international standards adopted by the Financial Action Task Force (FATF).
Further to the publication of a revised set of international standards on 16 February 2012, the Commission committed itself to rapidly updating the EU legislative framework to incorporate the necessary changes.
The Commission has undertaken a comprehensive review of the Third AML Directive and proposed the Fourth AML Directive. FEE has contributed at all stages.
FEE comment letter on proposed amendments to the EC’s proposal for a directive on the prevention of the use of the financial system for the purpose of money-laundering and terrorist-financing, November 2013