Overview
Guy Soussan and Algirdas Semeta co-authored a "Handbook on the new AML/CFT Regime for Insurance, Credit and Financial Intermediaries" with the European Federation of Insurance and Financial Intermediaries (BIPAR).
The new EU AML/CFT legislative package (the 6th Anti-Money Laundering Directive (AMLD6), the AML Regulation and the AMLA Regulation) marks a significant change in the EU framework for the prevention of money laundering and terrorist financing. It fully harmonizes AML/CFT rules and makes them directly applicable in all Member States. In addition to establishing more thorough rules and procedures in several important areas, the package also clarifies and modifies the existing AML/CFT obligations.
The handbook helps insurance, financial and credit intermediaries to prepare for the detailed new requirements by:
- summarizing the requirements of the new AML/CFT framework;
- drawing attention to key changes compared to the current EU AML/CFT regime;
- commenting on the main implications for intermediaries.
