Client Advisory: Key Takeaways for Financial Institutions from Fourth Money Laundering Directive
Nearly ten years after the preceding 2005 Anti-Money Laundering (AML) directive, the Financial Action Task Force (FATF) published the final draft of the Fourth Money Laundering Directive (MLD4) this February. FATF also published a concurrent draft European Union (EU) regulation on information accompanying fund transfers. Both actions are the result of the European Commission’s renewed focus on money laundering and terrorist financing prevention, stemming from the new international AML standards published in 2012.
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