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Supervision

Beating financial crime: Commission overhauls anti-money laundering and countering the financing of terrorism rules

The European Commission has today presented an ambitious package of legislative proposals to strengthen the EU’s anti-money laundering and countering the financing of terrorism (AML/CFT) rules. The package harmonises AML/CFT rules across the EU. It also proposes the creation of a new EU authority to fight money laundering. This package is part of the Commission’s commitment to protect EU citizens and the EU's financial system from money laundering and terrorist financing. The aim of the package is to improve the detection of suspicious transactions and activities, and to close loopholes used by criminals to launder illicit proceeds or finance terrorist activities through the financial system.