The IBFed welcomes the opportunity to comment upon the European Commission’s AML/CFT reform package and wishes to support an effective trilogue conclusion on this important portfolio. The IBFed supports the Commission’s ambition to harmonise national AML/CFT measures through EU-level legislation, guidance, and supervision. International regulatory fragmentation has complicated the work of regulators, law enforcement and multinational banking.
We explain our concerns and share recommendations in a letter addressed to the European Commission, advocating for international harmonisation of the ownership threshold for beneficial ownership reporting. Letter to the European Commission.