Newsletter No. 6 - 2019. Recent AML/CFT developments in the European Union and cooperation between FIUs and other Authorities

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There have been some significant developments in the European legal and operational framework for FIUs.

In July, the European Commission published four reports setting out areas of improvement and proposals related to various aspects of the AML/CFT system. A targeted focus was put on the operations and cooperation of FIUs; the importance of establishing a coordination and support mechanism, as envisaged by the Fifth AML/CFT Directive, was emphasized.

Furthermore, recent EU regulations have broadened the scope and forms of cooperation between FIUs, other national competent authorities and foreign counterparts, to reinforce the prevention and combatting of a wide range of serious crimes.