- Harmonise the EU legal framework in a directly applicable Regulation where evidence suggests that divergence of national rules and practices has had a significant, adverse impact on the prevention of the use of the EU’s financial system for ML/TF purposes. This is the case for customer due diligence and wider AML/CFT systems and controls requirements, as well as for those rules governing key supervisory processes such as ML/TF risk assessments, cooperation and enforcement;
- Strengthen aspects of the current AML/CFT Directive where existing provisions are insufficiently robust or specific, for example in relation to competent authorities’supervision powers in this area;
- Review the list of obliged entities currently within the scope of the EU’s AML/CFT regime;
- Clarify provisions in sectoral financial services legislation to ensure they are compatible with the EU’s AML/CFT objectives, for example by making sure that ML/TF risk is addressed consistently across all sectors.
AML Directive: The provision whereby the information on the beneficial ownership of companies incorporated within the territory of the Member States is accessible in all cases to any member of the general public is invalid
According to the European Court of Justice Judgment in Joined Cases C-37/20 (Luxembourg Business Registers) and C-601/20 (Sovim), as regards the interpretation of the Anti-money-laundering