Press Release: Adoption of anti-Money Laundering Directive will strike a blow against crime and terrorism

Author (Corporate)
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Series Details IP/05/682 (7.6.05)
Publication Date 07/06/2005
Content Type

The European Commission welcomed the definitive adoption by the Council of Economic and Finance Ministers of the Third Directive on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, 7 June 2005. The Directive applies to the financial and other key services sectors and also covers all providers of goods, when payments are made in cash in excess of €15.000. Those subject to the Directive must cooperate in the fight against money laundering by taking various measures to establish customers' identities, report suspicions and set up preventive systems within their organisations.
Source Link Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/05/682&format=HTML&aged=0&language=EN&guiLanguage=en
Related Links
European Commission: DG Freedom, Security and Justice: Organised Crime: Money Laundering http://ec.europa.eu/justice_home/fsj/crime/laundering/fsj_crime_laundering_en.htm
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