The Presidency of the Council of the European Union has issued a note inviting Ministers of the Permanent Representatives Committee to consider certain issues regarding the EU anti-money laundering and counter-terrorism financing framework. In July 2019, the European Commission published a Communication and a series of reports assessing the EU implementation of EU AML and CTF requirements and discussing whether further action is needed to improve the EU’s AML/CTF framework. In its Communication, the Commission identified certain issues that were likely to impede the effectiveness of the framework.
In response, the Council intends to set strategic AML/CTF priorities in a bid to guide the Commission’s longer-term actions in this area. It is inviting Ministers to consider the following issues with a view to informing Council Conclusions to be adopted on December 5, 2019:
- What would be the most appropriate scope of further reforms to the EU AML/CTF regime?
- How should ineffectiveness stemming from divergence in national implementation of the AML/CTF framework be addressed and which aspects of the regime would most benefit from further harmonization?
- How should issues related to inadequate supervision be addressed and is the creation of a new EU body a valid way forward?
- How could effective cooperation be ensured between relevant EU, Member State and third-country AML/CTF authorities?
View the EU Council's Note.
View details of the Commission's 2019 Communication on the EU AML/CTF framework.
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