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CEPI participates in a EU Conference on Fighting Money Laundering and Terrorist Financing


On 15 March the European Commission hosted a conference on fighting money laundering which was attended by the CEPI Secretariat. Fighting money laundering is an important issue for the real estate sector and CEPI takes a close interest in the anti-money laundering rules currently under review at EU level in the revision of the Third Anti-Money Laundering (AML) Directive. It is important to have clear and proportionate rules and procedures for professionals to follow according to the level of risk involved.

The conference was opened by Commissioner for Internal Market Michel Barnier who spoke about the importance of AML as part of a stable and sound internal market. The views and priorities of the European Parliament were introduced by Klaus Heiner Lehne MEP.

There followed three panel sessions and a further keynote speech by Commissioner for Home Affairs Cecilia Malmström who spoke about AML as part of the fight against crime. The first panel session concerned the new international standards on anti-money laundering and the changes involved. A representative of the international organisation (FATF) provided information about their activities, with responses being given on behalf of representatives of the banking and legal sector, Transparency International and the Dutch Ministry of Finance.

The second panel session covered the basics of an effective EU AML regime and the third was on future challenges for the AML framework.

The emphasis throughout was on the importance of following a risk-based approach. The meeting was closed by Director-General of DG Internal Market Jonathan Faull who stressed the need for both safety and integrity in a changing international environment. Attention will now be focused on developments at the European Parliament which will study carefully the proposal published by the Commission on 5 February for the revision of the Third AML Directive. CEPI will be following these developments very carefully and will soon publish its full position on the proposal.

More information is available at http://ec.europa.eu/internal_market/company/financial-crime/index_en.htm#news