EU Money Laundering Directive - transposition

EU Money Laundering Directive - transposition

 moneylaundering

The Member States had until 26 June 2017 to transpose the 4th EU Anti-Money Laundering Directive (4AMLD) in their national law. 

Despite various calls from DG JUST, various Member States did not meet the transposition deadline and have faced the first phase of an infringement procedure which consists of the European Commission sending each non-compliant Member State a ‘Letter of Formal Notice for non-communication’ of transposition measures regarding to the 4th AMLD.

The following Member States received such letters:

Netherlands
Portugal
Romania
Slovakia
Latvia
Malta
Bulgaria
Cyprus
Croatia
Poland
Ireland
Lithuania
Greece
Estonia
Finland
Luxemburg
 
While some Member States are late in the transposing procedure and are still conducting public consultations, other countries have stated their preference for awaiting the amendments of the 4th Anti-Money Laundering Directive (often called the 5th AMLD) which are currently under negotiation.
 
For further information on the current state of play of the AMLD transposition in the EU Member States, please get in touch.

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