EU Anti-Money Laundering Rules Get Green Light from Member States

The European Council recently adopted new anti-money-laundering rules. The rules create a new EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CTF), with direct and indirect supervisory authority over high-risk obliged entities in the financial sector and an extension of AML requirements to the crypto-sector, traders of luxury goods, and football clubs and agents. For a more detailed overview, you can review the MLex article on the EU AML/CTF requirements.

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