European Union:
Money Laundering And Terrorist Financing
09 May 2013
De Brauw Blackstone Westbroek N.V.
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The European Commission has published proposals to strengthen rules against money
laundering and terrorist financing. The proposals entail:
- a Directive on the prevention of the use of the financial
system for the purpose of money laundering and terrorist
financing
- a Regulation on information accompanying transfers of
funds
These proposals are in line with the recommendations of the Financial Action Task
Force. The recommendations were implemented in the Netherlands on 1
January 2013 by an amendment of the Act on the Prevention of Money
Laundering and Terrorist Financing.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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