New Draft European Commission Directive on Anti-Money Laundering – Overview and Summary of Requirements

• By: Staff Editor
• Date: February 28, 2013

The new draft EU Directive published in February 2013 aims to improve the EU's existing rules on anti-money laundering and reinforce vigilance by covered entities so as to deter crimes and corruption. The Directive also considers the recommendations of the Financial Action Task Force (FATF), the world anti-money laundering body, and follows rules sanctioned by competent authorities.