EU Ministers Release Words of Encouragement Amid 5AMLD Implementation Date Approaches

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As the recommended implementation date approaches, (January 10th 2020), the European Union’s Council of Finance Ministers have been holding meetings to find an agreement regarding strategic priorities on furthering anti-money laundering laws to follow the implementation of the Fifth Anti-Money Laundering Directive (5th AMLD).

It is reaching out to Member States, encouraging them to promptly transpose existing legislation into national law and to strengthen its implementation, and aims to enhance collaboration and data exchange between the local authorities, probably controlled by a central EU entity.