EU Raps 8 Countries Failing To Implement AML Rules

Law360, London (February 12, 2020, 2:28 PM GMT) -- The European Commission on Wednesday called out eight member states, including Spain and Cyprus, for failing to implement the bloc’s latest package of anti-money laundering safeguards, which should have transposed into domestic rulebooks by January.

We’re launching infringements against 8 EU countries for failing to transpose the 5th anti-money laundering directive. These stricter rules are vital to combat money laundering & terrorist financing. We expect countries to implement them fully & on time 👉 — Valdis Dombrovskis (@VDombrovskis) February 12, 2020 The European Union’s executive arm said that it has sent letters of formal notice to the countries — which also include...

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