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By Baptiste AUBRY, partner, financial services regulatory, Helena FINN, counsel Julien FRAHI, associate, AO Shearman
The European Union (EU) has for several years led the charge against money laundering and terrorism financing (ML/TF) through a series of legislative measures designed to protect the integrity of its financial system. The latest step in this ongoing effort is the recently adopted AML/CTF package.
This package contains three legislative texts aimed at strengthening the EU’s defenses against financial crime by further harmonizing the current EU AML/CTF framework via AMLR(1), establishing an EU AML/CTF Authority via AMLAR(2), and via AMLD6(3). WTR Recast(4) completes this suite of texts by integrating crypto-asset...
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