• EU Legislation

    • European Union (EU) legislation is, to a large extent, based on the international standards adopted by the Financial Action Task Force (FATF), of which the European Commission is a founder member.  The EU framework requires Member States of the EU to introduce  measures requiring Financial Institutions and Designated Non-Financial Businesses and Persons to take appropriate action to prevent them from being used for the purposes of money laundering or terrorist financing.

      The following Directives have been transposed into local legislation, which is currently still in force.  On the other hand, the Regulation, is directly applicable.

      Click on the following PDF links to download the relevant Directives and Regulation:

      2005/60/EC - Third Money Laundering Directive
      2006/70/EC - Implementation Directive
      Regulation (EC) 1781/2006

      The Fourth Money Laundering Directive and the Revised Funds Transfer Regulation were published on the 5th June 2015, and will therefore become applicable locally by the 26th June 2017.

      Click on the following PDF links to download the relevant Directive and Regulation:

      (EU) 2015/849 - Fourth Money Laundering Directive
      Regulation (EU) 2015/847