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ARTICLE · 15 MAY 2025

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EU AML/CFT Reforms And Impacts On Beneficial Ownership

William Fry LLP
William Fry LLP
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William Fry LLP

William Fry LLP

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On 6 March 2025, in response to a call for advice from the European Commission in relation to certain aspects of the new EU Anti Money Laundering (AML)...

IrelandGovernment, Public Sector
Louise McNabola
Louise McNabola
Shane Kelleher
Shane Kelleher
Jane Balfe
Jane Balfe
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On 6 March 2025, in response to a call for advice from the European Commission in relation to certain aspects of the new EU Anti Money Laundering (AML)/Countering Terrorist Financing (CFT) regime, the European Banking Authority (EBA) published a consultation paper containing four sets of draft Regulatory Technical Standards (RTS).

The draft RTS related to:

  • how the new EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) will decide which institutions will be subject to direct supervision
  • determining the Money Laundering/Terrorist Financing (ML/TF) risk associated with each institution
  • information to be obtained as part of the customer due diligence (CDD) process

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