European Council - New rules adopted on money laundering and terrorist financing

On 14 May 2018, the Council adopted a directive strengthening EU rules to prevent money laundering and terrorist financing.

The main changes to directive 2015/849 involve:

- broadening access to information on beneficial ownership, improving transparency in the ownership of companies and trusts;
-  addressing risks linked to prepaid cards and virtual currencies;
- cooperation between financial intelligence units;
- improved checks on transactions involving high-risk third countries.