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ARTICLE · 16 OCTOBER 2024

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Overview Of The EU AML/CFT Legislative Package

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On the 19th June 2024, the EU AML/CFT Legislative Package was published in the EU Official Journal, which includes a set of legislative texts, comprising of two regulations and a directive, proposed by the European Commission to strengthen the EU's framework and its financial system against money laundering and financing of terrorism.

MaltaGovernment, Public Sector
Elaine Magri
Elaine Magri
Jonathan Camilleri
Jonathan Camilleri
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On the 19th June 2024, the EU AML/CFT Legislative Package was published in the EU Official Journal, which includes a set of legislative texts, comprising of two regulations and a directive, proposed by the European Commission to strengthen the EU's framework and its financial system against money laundering and financing of terrorism. The main scope of the new AML/CFT legal package is to harmonise ways in addressing financial crime across the EU, improve transparency, and create better communication channels between EU Member States and authorities.

Legal acts and application date

  1. Regulation (EU) 2024/1624 – AML/CFT Regulation ("AMLR") which came into force on 9th July 2024, and will officially apply from 10th July 2027, although, certain provisions relating to football agents, and professional football clubs deemed as subject persons, will apply on 10th July 2029.

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