Anti-Money Laundering Europe (AME) and UNICRI held joint seminar to examine key issues and best practices in the implementation of the EU Third Money Laundering Directive (2005/60/EC). The event hosted by MEP Mr John Purvis, UK, EPP, Vice Chair of the Economic and Monetary Affairs Committee and participants was attended also by high level representatives from the EU Institutions and private sector.
The Third MLD was adopted in October 2005 and was due to have been implemented by December 2007. It applies to the banking and other key sectors and sets down obligations and requirements with regard to establishing customers’ identities, reporting suspicious transactions and setting up preventive systems within their organizations.
Implementation of the Directive has given rise to various issues such as the definition of beneficial ownership, equivalency of AML procedures in non-EU countries and application to the non-financial sector. These issues affect relevant sectors both within and outside the EU.
Pleased to host this event, MEP John Purvis said “In this uncertain period of global financial turmoil it is ever more incumbent on public and private sectors to work together to fight financial crime and to address any obstacles which affect co-operation.”
Anti-Money Laundering Europe (AME), established in 2004, is a Brussels-based public private sector platform which meets twice annually with senior EU and global officials on financial crime issues.
The United Nations Interregional Crime and Justice Research Institute (UNICRI), based in Turin, Italy, was created in 1968 to assist intergovernmental, governmental and non-governmental organizations in formulating and implementing improved policies in the field of crime prevention and criminal justice.