Ministers discussed the Council conclusions on anti-money laundering and terrorism financing..to give the Commission guidance for its 2021 legislative proposals on a single rule book, EU-level supervision and a coordination and support mechanism for member states' financial intelligence units.
During the discussion, ministers expressed broad support for the draft Council conclusions as prepared by Coreper and at expert level.
In the draft conclusions, the Council outlines various areas in which
the Commission should consider harmonising the EU rules via a directly
applicable regulation. The Council also supports setting up an EU-level
supervisor with direct supervisory powers over a selected number of
high-risk obliged entities, as well as the authority to take over
supervision from a national supervisor in clearly defined and
exceptional situations.
The Council is due to approve the conclusions by written procedure after the video conference.
The fight against money laundering and terrorism financing is
a top priority for the German presidency. Recent alleged money
laundering cases, including in the EU, underline the urgency to act.
More harmonised rules and EU-level supervision will allow us to be more
effective and to strengthen the EU's anti-money laundering framework. It
is an important sign that we all stand united for tough anti-money
laundering measures.
Olaf Scholz, Germany’s Federal Minister of Finance and Vice Chancellor
© European Council
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