Report on the assessment of the risk of money laundering and terrorist financing affecting the internal market and relating to cross-border activities

Summary:

Report presented on 24 July 2019 by the European Commission as part of a package aimed at supporting European and national authorities in better addressing money laundering and terrorist financing risks.

Further information:

Article 6 of Directive (EU) 2015/849 (the 4th Anti-Money Laundering Directive) mandates the European Commission to conduct an assessment of money laundering and terrorist financing risks affecting the internal market and relating to cross border activities and to update it every two years (or more frequently if appropriate).

This report updates the Commission’s first supranational risk assessment published in 2017. It assesses the implementation of the Commission’s recommendations and evaluates remaining risks, including in new products and sectors.

The report provides a systematic analysis of the money laundering or terrorist financing risks of specific products and services. It focuses on vulnerabilities identified at EU level, both in terms of legal framework and in terms of effective application and provides recommendations for addressing them.

This report is one of a set of four reports accompanied by the Commission Communication 'Towards better implementation of the EU’s anti-money laundering and countering the financing of terrorism framework'.

• Primary Source

Official

EUR-Lex: SWD(2019)650: Commission Staff Working Document accompanying COM(2019)370 https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=SWD:2019:650:FIN

European Commission: Press Release, 24/07/2019: Fight against money laundering and terrorist financing: Commission assesses risks and calls for better implementation of the rules http://europa.eu/rapid/press-release_IP-19-4452_en.htm

---