Response to European Commission Roadmap: Preventing and Combating Money Laundering and Terrorism Financing: 3 March 2020

On 24 July 2019, the European Commission adopted a Communication to the European Parliament and the Council which observed that, although many risks and shortcomings in the regulatory framework for anti-money laundering and preventing terrorist financing had been addressed, structural shortcomings remained.  As a result, the European Commission has issued a roadmap to identify the areas where further action would be needed at E.U. level in order to achieve a comprehensive and effective framework.

The FMLC welcomes this initiative and is grateful for the opportunity to highlight the importance of legal entity identifiers (“LEIs”), which unambiguously identify legal entities engaged in financial transactions, in combating money laundering.

Available as: PDF.