On March 3, the Council of the EU published a compromise proposal (dated January 28, 2014) on the European Commission’s proposed Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (known as the Fourth Money Laundering Directive or MLD4).

MLD4 will amend and replace the Third Money Laundering Directive and is designed to further strengthen the EU’s defenses against money laundering and terrorist financing, while also ensuring that the EU framework is aligned with the Financial Action Task Force standards. Compromise Proposal.