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Written by Piotr Bakowski (2nd edition, updated on 14.11.2024).
In 2021, the European Commission presented a package of legislative proposals in the area of anti‑money-laundering efforts and countering the financing of terrorism (AML/CFT). One of them, a proposal on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, became Regulation (EU) 2024/1624, adopted on 31 May 2024. Its detailed, directly applicable provisions will replace the minimum rules of the existing EU AML directives. Most provisions will apply from 10 July 2029.
The package was adopted in response to repeated calls by the European Parliament and the Council of the EU to enhance the EU’s AML/CFT regulatory framework. The aim is for the framework to become more coherent, keeping in step with technological innovations and related new forms of crime, as well as remaining in line with international standards in the area. In Parliament, the Committees on Economic and Monetary Affairs and on Civil Liberties, Justice and Home Affairs were jointly responsible for the file.
Complete version
- November 2024: Proposal for a regulation to fight money laundering and counter terrorist financing (2nd edition)
| Proposal for a regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing |
| Committee responsible: | Economic and Monetary Affairs (ECON) and Civil Liberties, Justice and Home Affairs (LIBE) (jointly under Rule 58) | COM(2021) 420 20.7.2021 |
| Rapporteurs: | Eero Heinäluoma (S&D, Finland) and Damien Carême (Greens/EFA, France) | 2021/0239(COD) |
| Shadow rapporteurs: | Karolin Braunsberger-Reinhold (EPP, Germany); Ralf Seekatz (EPP, Germany); Franco Roberti (S&D, Italy); Dragoş Pîslaru (Renew, Romania); Ramona Strugariu (Renew, Romania); Kira Marie Peter‑Hansen (Greens/EFA, Denmark); Gunnar Beck (ID, Germany); Jean-Paul Garraud (ID, France); Jadwiga Wiśniewska (ECR, Poland); Roberts Zīle (ECR, Latvia); Clare Daly (The Left, Ireland); Martin Schirdewann (The Left, Germany) | Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’) |
| Procedure complete Regulation (EU) 2024/1624 OJ L, 2024/1358, 22.5.2024 |
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