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ARTICLE · 25 APRIL 2025

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Navigating The New EU AML Regulation: Key Changes And Implications For Compliance

Michael Kyprianou & Co. LLC
Michael Kyprianou & Co. LLC
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This article is based on the AML Regulation Factsheet by Accountancy Europe, which outlines the latest changes introduced by the European Union's Anti-Money Laundering (AML) reform.

CyprusGovernment, Public Sector
Michael Kyprianou & Co LLC
Michael Kyprianou & Co LLC
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This article is based on the AML Regulation Factsheet by Accountancy Europe, which outlines the latest changes introduced by the European Union's Anti-Money Laundering (AML) reform. It highlights the key compliance obligations for accountants, auditors, tax advisors, and other obliged entities, providing insights into how these changes will impact their operations and what steps they must take to prepare.

The European Union's fight against money laundering and terrorist financing has taken a significant step forward with the adoption of a new AML package in May 2024. This reform introduces stricter compliance requirements for accountants, auditors, tax advisors, and other "obliged entities," significantly impacting their day-to-day operations. The AML Regulation (AMLR) is directly applicable across all EU member states, ensuring a harmonised approach to AML compliance. Unlike previous directives that required national implementation, the AMLR eliminates variations

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