Ministers agree to set up dedicated EU AML body

EU finance ministers agreed to set up an EU body Tuesday. the purpose of which is to combat money laundering across the bloc, following an European Commission proposal from May.

The council of ministers also gave their backing for the Commission to harmonise EU anti-money laundering rules and provide coordination and support for national Financial Intelligence Units of EU countries.

The Commission is now to present legal proposals to turn that agreement into reality in Q1 2021.

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