Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing

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Publication Date 05/06/2015
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Directive of the European Parliament and of the Council of 20 May 2015, amending Regulation (EU) No 648/2012 and repealing Directive 2005/60/EC and Directive 2006/70/EC.

Further information:

This Directive incorporates and repeals Directive 2006/70/EC laying down implementing measures for Directive 2005/60/EC, thus improving the comprehensibility and accessibility of the anti-money laundering (AML) legislative framework for all stakeholders.

The main objectives of this initiative are to strengthen the Internal Market by reducing complexity across borders, to safeguard the interests of society from criminality and terrorist acts, to safeguard the economic prosperity of the European Union by ensuring an efficient business environment, to contribute to financial stability by protecting the soundness, proper functioning and integrity of the financial system.

These objectives will be achieved by ensuring consistency between the EU approach and the international one; ensuring consistency between national rules, as well as flexibility in their implementation; ensuring that the rules are risk-focused and adjusted to address new emerging threats.

The European Commission proposal for this Directive was presented in February 2013 along with a proposal for a Regulation on information accompanying transfers of funds.

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Related Links
EUObserver, 06/02/2013: EU proposes €5mn fines for money laundering

EUR-Lex: COM(2013)45: Proposal for a Directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing
EUR-Lex: SWD(2013)21: Impact assessment
EUR-Lex: SWD(2013)22: Executive summary of the impact assessment
European Commission: Press Release, 05/02/2013: Anti-money laundering: Stronger rules to respond to new threats
European Commission: Memo, 05/02/2013: Proposal to protect the euro and other currencies against counterfeiting [Q&A]
European Commission: Memo, 05/02/2013: Frequently asked questions: Anti-money laundering

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