EC refers Greece, Ireland and Romania to court over anti-money laundering rulesStaff Writer | July 20, 2018
The Commission referred Greece and Romania to the Court of Justice of the EU for failing to implement the 4th Anti-Money Laundering Directive into their national law.
Europe The Commission proposed that the Court charges a lump sum
The Commission proposed that the Court charges a lump sum and daily penalties until the three countries take the necessary action.
The Member States had until 26 June 2017 to transpose the 4^th Anti-Money Laundering Directive.
Meanwhile, in the wake of the Panama Papers revelations and the terrorist attacks in Europe, the Commission proposed a 5th Anti-Money Laundering Directive to further step up the fight against money laundering and terrorist financing. ■