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ARTICLE · 07 JULY 2015

Fourth Money Laundering Directive IV

Dillon Eustace
Dillon Eustace
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Member States are obliged to transpose MLD4 into national law by 26 June 2017.

European UnionGovernment, Public Sector
Dillon Eustace
Dillon Eustace
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 On 5 June 2015, the Fourth Money Laundering Directive (Directive (EU) 2015/849) ("MLD4") was published in the Official Journal of the EU. MLD4 extends and replaces the Third Money Laundering Directive ("MLD3"), which is the existing EU anti-money laundering ("AML") and counter terrorist financing ("CTF") regime.

Member States are obliged to transpose MLD4 into national law by 26 June 2017.

Background

The introduction of MLD4 is largely driven by revisions to the FATF Recommendations which were adopted in February 2012 in order to address emerging AML and CTF concerns. The European Commission (the "EC") also published a report in 2012, which reviewed MLD3.

Consequently, the first draft of MLD4 was published in February 2013 and political agreement was reached at the end of 2014. MLD4 was published in the Official Journal following adoption by the EU Council in April 2015 and by the European Parliament in May 2015. MLD4 is designed to strengthen the EU's

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