The European Commission has sent a letter of formal notice to Ireland, together with letters of formal notice to Belgium, the Czech Republic, Estonia, Greece, Luxembourg, Austria, Poland and the UK for having only partially transposed the 5th Anti-Money Laundering (AML) Directive.
The European Commission has now launched enforcement action against more than half of the EU's Member States for failing to fully transpose the EU Fifth Anti-Money Laundering Directive (5AMLD) into their national law by the 10 January 2020 deadline. The Commission is encouraging these Member States to transpose the Directive as a matter of urgency.
