Key Regulations: AMLR (Regulation), AMLD6 (Directive), AMLAR (Authority Regulation)
The EU has introduced new anti-money laundering (AML) legislation to better prevent money laundering and terrorist financing across member states. The aim is to ensure financial security and comply with international standards.
The AMLR is a regulation that applies directly to all EU member states without the need for transposition into national law.
The AMLD6 is a directive, which requires EU member states to transpose its provisions into national law.
The AMLAR establishes a European supervisory authority to oversee the implementation of AML regulations across the EU.
| Aspect | AMLR (Regulation) | AMLD6 (Directive) | AMLAR (Authority Regulation) |
|---|---|---|---|
| Type | Regulation (Directly applicable) | Directive (Transposition required) | Regulation (Defines authority) |
| Scope | Cross-border enforcement, UBO registers | National level implementation required | Supervision and guidance for national authorities |
| Main Focus | Binding, uniform rules | Enhanced cooperation, extended offences | Creation of a central AML authority |
| Implementation | Directly affects all EU member states | National level implementation required | Establishment of a European authority |
The following crimes are considered predicate offences under AMLD6, and are now subject to reporting and enhanced due diligence:
The penalties for violating AML regulations have been significantly strengthened. These may include:
To ensure compliance, businesses must implement effective internal controls, conduct thorough due diligence, and ensure regular reporting to relevant authorities. Key actions include:
The new EU anti-money laundering regulations (AMLR, AMLD6, and AMLAR) are set to enhance the fight against financial crime and ensure greater protection of the EU's financial system. Businesses must align with these evolving standards to avoid penalties and ensure compliance.