The new EU anti-money laundering package is ready

In January 2024, the European Union took a decisive step in the fight against money laundering: agreement was reached on the EU-wide anti-money laundering (AML) package. This package represents a change in the regulatory architecture of money laundering compliance in Europe and is a response to the previous challenges and inconsistencies in the regulations in the member states.

Need for change

Until now, the regulations at European level were based on EU money laundering directives, which then had to be transposed into national law in the individual member states. These processes often took a long time and sometimes led to considerable differences between countries in the implementation of the directive's regulations. In addition to a 6th EU Money Laundering Directive, the new AML package introduces an EU Money Laundering Regulation, which covers key areas of regulation. As a regulation, it is directly applicable in the member states in the same way.