ARTICLE · 26 JULY 2019

Transposing The 4th AML Directive

DLA Piper UK LLP

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Law No. 129/2019 on the prevention and sanctioning of money laundering and terrorism financing transposing the 4th AML Directive.

European UnionGovernment, Public Sector

Law No. 129/2019 on the prevention and sanctioning of money laundering and terrorism financing transposing the 4th AML Directive finally adopted by the Parliament on 26 June 2019 was published on 18 July 2019

Background

The Law No 129/2019 on the prevention of money laundering and terrorism financing (AML Law) was adopted by the Romanian Parliament on 26 June 2019, precisely with a 2 years term delay from the 4th AML Directive transposition deadline and was published in the Official Gazette of Romania No 589 of 18 July 2019. The AML Law will enter into force on 21 July 2019. It repels the former Law No 656/2002 on the prevention of money laundering and terrorism financing (Former AML Law).

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