Press Release: Money laundering and terrorist financing: Member States agree to Commission draft for ‘level 2’ implementing measures

The Committee for the Prevention of Money Laundering and Terrorist Financing, a regulatory committee composed of Member States and chaired by the European Commission, agreed on 10 May 2006 to the European Commission's formal draft for technical measures implementing the Third Directive on the prevention of money laundering and terrorist financing. The Directive had been adopted in October 2005 (IP/05/682) and was to be implemented at the latest in December 2007. The proposed technical measures were formally presented to the European Parliament and to the Committee mid-April 2006.