The European Commission's Bill for a new Anti-Money Laundering Directive
Money laundering and terrorist financing id high on the GRC agenda. In this connection, we look at the changes the European Commission's bill for a new Anti-Money Laundering Directive if it is adopted in its current form.
The Financial Action Task Force (FATF) develops and promotes policies to combat money laundering and terrorist financing. FATF-standards include recommendations in relation to electronic cross-border money transfers. This is not a part of the Anti-Money Laundering Directive, but has instead been implemented in the EU through an EU-Regulation. In connection with the submission of the bill for a new Anti-Money Laundering Directive, a new Regulation regarding the aforementioned subject was also proposed.
Based on a recent judgment by the High Court of Eastern Denmark, we will take a look at how sentences for violation of the Danish Act on Measures to prevent Money Laundering are fixed in practice. Finally, we will look into which new elements the Danish Financial Supervisory Authority’s updated guidelines for the Danish Act on Measures to prevent Money Laundering contain.
Source: Moalem Weitemeyer Bendtsen
