On 12 September 2018, the European Commission proposed new measures to further strengthen the supervision of EU financial institutions with regard to money-laundering and terrorist financing risks. This, only four months after publication of the Fifth Anti-Money Laundering Directive. With this alert, we would like to provide you with an overview of the most important issues of the Commission’s proposal.
On 18 July 2018, the European Banking Authority (EBA) published its final guidelines on fraud reporting under PSD2. This article explains the new guidelines, who is affected, when these guidelines for credit, payment and e-money institutions take effect and what important changes have been made compared to the consultation draft.
On 19 June 2018 the 5th Anti-Money Laundering Directive was published in the Official Journal of the EU (click here for the direct link to the text). It entered into force on 9 July 2018 and has to be implemented by the Member States by 10 January 2020.
This article aims to provide you with a summary of the most important points, who is affected and what needs to be done by them.