Report assessing the framework for cooperation between Financial Intelligence Units

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:

Financial Intelligence Units (FIUs) are operationally independent and autonomous units that have been established under the EU’s anti-money laundering and countering the financing of terrorist framework and their functioning and tasks are mainly regulated by the Anti-Money Laundering Directive.

Article 65(2) of Directive (EU) 2018/843 (the 5th Anti-Money Laundering Directive) requires the European Commission to assess the framework for FIUs’ cooperation with third countries and obstacles and opportunities to enhance cooperation between FIUs in the European Union, including the possibility of establishing a coordination and support mechanism.

This report builds on a previous “mapping report” on improving cooperation between Member States’ FIUs. Since then, certain difficulties have been addressed by the transposition and implementation of the 4th Anti-Money Laundering Directive and certain operational action taken by the FIUs. The report focuses on the remaining obstacles to cooperation.

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'.

Official

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

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