Money laundering regulations 2017 pdf: Commission assesses risks and implementation shortcomings in fight against money laundering and terrorist financing: Questions and Answers

The fifth Anti-Money Laundering Directive mandated the Commission to submit a report to the European Parliament on this issue. In this report the Commission assesses the conditions, technical specifications and procedures for ensuring a secure and efficient interconnection of the centralised bank account registries or data retrieval systems. Looking at the various IT solutions ensuring the EU-wide decentralised interconnection of national electronic databases, already operational or being currently under development, this report delivers a short factual analysis of the available technical options, highlighting their benefits or drawbacks. The report also identifies where one or another option is most suitable for a possible future interconnection of the national bank account registries. The report will inform EU decision makers about a future interconnection project. It is a legal basis for the establishment of an EU-wide interconnection.

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