Negotiations between the European Parliament and the EU Council on the strengthened ‘AMLR’ anti-money laundering regulation are focusing on the scope of obliged entities and their definitions, according to a document dated Tuesday 17 October and obtained by EUROPE (see EUROPE B13278A25).
For example, the European Parliament wants to ensure that the definition of ‘funds’ in the text is broad in order to comply with the standards of the Financial Action Task Force (FATF) and to avoid...