Anti-Money Laundering Directive V

Published 06.04.2020

State of play: published in the Official Journal (L 156/43 and L 284/22)

Level 1

Commission

  • 5 July 2016, the Commission published a proposal to amend the fourth Anti-Money Laundering Directive.
  • 12 September 2018, the Commission proposed to strengthen the EBA’s powers on anti-money laundering.
  • 13 February 2019, the Commission adopted a new list of third countries with anti-money laundering and terrorist financing regimes.
  • 24 July 2019, the Commission published a Communication and four reports on the fight against money laundering and terrorist financing.

Council

  • 12 July 2016, the ECOFIN Council held a debate on anti-money laundering.
  • 4 December 2018, the Council adopted the conclusions on an AML action plan for enhanced monitoring.
  • 19 December 2018, the Council agreed on the amended proposal to reinforce the EBA’s powers on AML.
  • 14 May 2018, the Council formally adopted the fifth AML Directive.

Parliament

  • 28 February 2017, the ECON and LIBE Committees adopted the draft report on the AML revision.
  • 19 April 2018, the Parliament adopted the fifth AML Directive in plenary.

Trilogue negotiations

  • 20 December 2016, the Council agreed its negotiating position on the proposal.
  • 14 March 2017, the Parliament confirmed the mandate for negotiations.
  • 13 December 2017, the Council and the Parliament reached an agreement on the proposal.
  • 29 January 2018, the ECON and LIBE Committees approved the text resulting from trilogue negotiations.

Level 2

  • 31 January 2019, the Commission adopted a delegated regulation on money laundering and terrorist financing risk in certain third countries

Level 3

  • 26 June 2017, the ESAs published their final guidelines on AML.
  • 8 November 2018, the ESAs launched a public consultation on draft guidelines on the cooperation and information exchange for the purpose of AML/CFT supervision.
  • 24 July 2019, the EBA published an opinion on the link between money laundering and terrorist financing concerns and prudential objectives.
  • 4 October 2019, the ESAs published their second joint opinion on the risks of money laundering (ML) and terrorist financing (TF) affecting the EU’s financial sector.
  • 16 December 2019, the ESAs published a final report on joint guidelines on cooperation and information exchange, establishing colleges of AML/CFT supervisors to ensure effective cooperation and information exchange between competent authorities.
  • 5 February 2020, the EBA issued a public consultation on revised money laundering and terrorist financing (ML/TF) risk factors guidelines as part of a broader communication on AML/CFT issues.

Next steps

  • The Commission is calling for a transformation of the directive into a regulation to ensure better harmonisation of national legislations.
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