Compliance & Anti-Financial Crime
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Berlin labelled EU’s AML ‘problem child’ as Commission issues infringement proceedings against Germany – Europe’s financial powerhouse

GERMANY was today heavily criticised for its record on tackling financial crime just hours after the European Commission warned Berlin to bring its AML laws into line with the rest of the bloc.

The Commission announced it had sent letters of formal notice to Germany – alongside Portugal and Romania – in a statement Thursday, saying that they had not correctly transposed the EU’s 4th Anti-Money Launder Directive (4AMLD) on time.

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