20th June 2024
The FIAU would like to notify subject persons that after two years of negotiations, the final texts of the EU AML/CFT Package have been published in the EU’s official Journal on the 19th of June 2024.
Subject persons are reminded that the EU AML/CFT legislative package consists of the following:
- The 6th Anti-Money Laundering Directive (AMLD6) – it will come into force twenty days following its publication in the EU’s Official Journal. Member States must transpose the AMLD6 in their national legislation by 10 July 2027, at which point the current AMLD4, as amended by the AMLD5, will be repealed. It is to be noted however that, Article 74 concerning the central registers of beneficial ownership of corporates and trusts, must be transposed by 10 July 2025; Article 11-13 and 15, addressing beneficial owner registers are to be transposed by 10 July 2026; and Article 18 mut be transposed by 10 July 2029.
- The AML/CFT Regulation(AMLR) – it will come into force twenty days following its publication in the EU’s Official Journal. Application will start 3 years after coming into force, that is from 10 July 2027, save for the provisions which bring football agents and (in respect of certain transactions) professional football clubs into scope as subject persons, which provisions will apply from 10 July2029.
- The Anti-Money Laundering Authority Regulation (AMLAR)- it will come into force seven days following its publication in the EU’s Official Journal. It will start applying as of 1 July 2025. However, it is important to note that certain articles of the AMLAR will apply from 26 June 2024.
The publication of these texts was the final step in the European legislative process and they may be accessed by clicking here.
AML/CFT