Money laundering and terrorist financing

This procedure aims to strengthen the European Union's legal framework to prevent money laundering and the financing of terrorism. It focuses on closing loopholes that criminals use to hide the origin of illicit funds and improving the coordination of financial intelligence across member states.

This will affect financial institutions, legal professionals, and high-value asset dealers who must implement stricter reporting and verification rules. It also impacts criminal networks by making it harder to move and hide illegal capital.