consultation accompanying the Action Plan is open until 29th July. Based on the feedback received, the EC intends to propose legislation in 2021.he EC has presented an all-embracing new Action Plan which aims to close any remaining loopholes in existing EU anti-money laundering and counter terrorist financing rules. The Plan includes proposed legislation to create a single EU rule book on areas to be regulated at EU level and to create a new EU AML supervisory body. Other proposals include a stronger role for the EU in reinforcing and raising international standards, including in cooperation with the FATF, plus a ‘refined’ methodology for identifying high-risk non EU countries. A public
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