20 EU States Under Crossfire for Failure to Implement Money Laundering Directive

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With the EUs transposition deadline for the Fourth Anti-Money Laundering Directive expiring more than a year ago, The ECs Justice Commissioner has released a statement criticising the sluggish and unsatisfactory implementation of the regulations into Member States’ local legislation. The transposition deadline expired more than a year ago and only a handful of Member States met it.

Many other States’ reluctance to transpose the 4th AMLD is reportedly due to requiring the setting up of nation-wide Beneficial Ownership registries. With the Netherlands proclaiming that they may not even be able to implement it by 2020, the deadline for the 5th Anti-Money Laundering Directive.