Council of the European Union Issues Note on Strategic Priorities for AML and CTF

The Presidency of the Council of the European Union has issued a note inviting Ministers of the Permanent Representatives Committee to consider certain issues regarding the EU anti-money laundering and counter-terrorism financing framework. In July 2019, the European Commission published a Communication and a series of reports assessing the EU implementation of EU AML and CTF requirements and discussing whether further action is needed to improve the EU’s AML/CTF framework. In its Communication, the Commission identified certain issues that were likely to impede the effectiveness of the framework.

In response, the Council intends to set strategic AML/CTF priorities in a bid to guide the Commission’s longer-term actions in this area. It is inviting Ministers to consider the following issues with a view to informing Council Conclusions to be adopted on December 5, 2019:
 

1. What would be the most appropriate scope of further reforms to the EU AML/CTF regime?
2. How should ineffectiveness stemming from divergence in national implementation of the AML/CTF framework be addressed and which aspects of the regime would most benefit from further harmonization?
3. How should issues related to inadequate supervision be addressed and is the creation of a new EU body a valid way forward?
4. How could effective cooperation be ensured between relevant EU, Member State and third-country AML/CTF authorities?

View the EU Council's Note.

View details of the Commission's 2019 Communication on the EU AML/CTF framework.

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