Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 16 APRIL 2024

Market Intelligence Thought Leadership Award Winner

EU AML/CFT Reform Package

William Fry LLP
William Fry LLP
Contributor
William Fry LLP

William Fry LLP

William Fry advises leading Irish and international companies, covering both the public and private...

View firm profile
Explore more from William Fry LLP

The EU Parliament and the Council of the EU have provisionally agreed on the remaining elements of a package of anti-money laundering and countering the financing of terrorism measures (AML/CFT reform package)...

IrelandGovernment, Public Sector
Louise McNabola
Louise McNabola
Shane Kelleher
Shane Kelleher
Author LinkedIn connections

The EU Parliament and the Council of the EU have provisionally agreed on the remaining elements of a package of anti-money laundering and countering the financing of terrorism measures (AML/CFT reform package), originally presented by the EU Commission in July 2021.

The key pieces of legislation in the original package comprise:

  • AMLAR – the regulation on establishing a new EU AML and CFT Authority (AMLA) – text of AMLAR provisionally agreed on 13 December 2023.
  • AMLR – the AML "single rulebook" regulation – text of AMLR provisionally agreed on 18 January 2024.
  • AMLD6 – the sixth AML directive – text of AMLD6 provisionally agreed on 17 January 2024.
  • Recast WTR – a recast revised wire transfer regulation ((EU) 2023/1113) – published in the EU's Official Journal, in tandem with the Markets in Crypto Assets Regulation (MiCA), on 9 June 2023 to capture the transfer of crypto assets. The finalised Recast WTR text is available here.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

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.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

Government Legislative Priorities For Autumn 2026

The Government has published its Autumn 2026 Legislation Programme, identifying 32 bills for priority publication and 32 bills for priority drafting. This article explores a selection of measures likely to be of interest to businesses, spanning digital economy, strategic infrastructure, litigation reform, financial regulation, competition law, corporate structures, employment, pensions, and healthcare sectors.
IrelandGovernment, Public Sector
William Fry LLP
William Fry LLP
Article

New EU Public Procurement Regime: Legislative Process Begins

The European Commission has proposed a comprehensive overhaul of EU public procurement law through a single, directly applicable Regulation that would replace existing Directives. This fundamental reform introduces mandatory quality-weighted award criteria, liberalised negotiation procedures, and entirely new frameworks for security considerations and European preference in public contracting.
European UnionGovernment, Public Sector
Arthur Cox
Arthur Cox
Article

Life Sciences Outlook 2026 - Data And Digital

The European Union's evolving regulatory landscape for artificial intelligence, cybersecurity, and health data is creating new compliance challenges and opportunities for life sciences organizations. From the AI Act's refinements to the delayed NIS2 Directive transposition in Ireland, stakeholders must navigate multiple intersecting frameworks while preparing for the European Health Data Space Regulation's implementation.
European UnionGovernment, Public Sector
Arthur Cox
Arthur Cox
Article

Ireland’s Data Centre Connections: Back Online

Ireland has lifted its data centre connection moratorium and introduced a demanding new framework requiring developers to provide their own generation capacity, source 80% of electricity from new Irish renewables within six years, and meet strict grid stability requirements. The policy creates significant opportunities for developers who can navigate the complex intersection of grid connection, planning permission, and renewable energy procurement, though a pending legal challenge adds uncertainty to the la
IrelandEnergy and Natural Resources
William Fry LLP
William Fry LLP
Article

Government Legislative Priorities For Autumn 2026

The Government has published its Autumn 2026 Legislation Programme, identifying 32 bills for priority publication and 32 bills for priority drafting. This article explores a selection of measures likely to be of interest to businesses, spanning digital economy, strategic infrastructure, litigation reform, financial regulation, competition law, corporate structures, employment, pensions, and healthcare sectors.
IrelandGovernment, Public Sector
William Fry LLP
William Fry LLP
Article

Data For Sale: Can Insolvent Companies Realise The Value Of Corporate Data?

Spirit Airlines' proposed $10 million sale of a massive de-identified corporate dataset to Google in its Chapter 11 bankruptcy proceedings raises fundamental questions about whether operational business data can be treated as a realisable asset in insolvency. The transaction highlights the legal tension between preserving a dataset's commercial utility and ensuring individuals cannot be identified, particularly when the data maintains referential integrity across multiple systems.
IrelandInsolvency/Bankruptcy/Re-Structuring
William Fry LLP
William Fry LLP
Article

CBI Consults On Third-Party Risk

The Central Bank of Ireland has published a consultation paper proposing new guidance on managing third-party risks that extends beyond traditional outsourcing to encompass partnerships, joint ventures, and fintech collaborations. The proposed framework aligns with recent European Banking Authority guidelines and DORA, introducing a lifecycle-based approach with enhanced contractual provisions and broader scope than the 2021 guidance it will replace. Financial entities now face the challenge of identifying
IrelandFinance and Banking
William Fry LLP
William Fry LLP
Article

Time Running Out As AI Transparency Guidelines Published

The European Commission has published comprehensive guidelines on AI transparency obligations under Article 50 of the EU AI Act, with enforcement beginning August 2, 2026. These guidelines establish how organizations must disclose AI systems, mark synthetic content, label deepfakes, and demonstrate compliance, with significant penalties for non-compliance reaching up to €15 million or 3% of global turnover.
IrelandTechnology
William Fry LLP
William Fry LLP