Dissent as Fourth EU ML Directive nears adoption

The Fourth EU Money Laundering Directive (4MLD) edged closer to adoption on 20 April after the EU Council of Ministers formally approved a three-way ‘trilogue’ deal that Council, European Parliament and European Commission negotiators clinched last December. However, criticism of the deal was expressed by Austria, the Czech Republic and France, although they did not vote against the legislation, which the Council approved without discussion. The European Parliament is now set to approve the deal at the 18-21 May plenary in Strasbourg, meaning adoption of the Directive and associated Wire Transfer Regulation, which are then set to take effect mid-2017.