DIRECTIVE (EU) 2024/1640 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 31 May 2024 on the mechanisms to be put in place by Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Directive (EU) 2019/1937, and amending and repealing Directive (EU) 2015/849

This directive updates rules to stop money laundering and terrorist financing through the EU's financial system. It aims to strengthen existing measures and close loopholes that criminals could exploit. Member States must implement new mechanisms to prevent illicit activities. This directive amends and repeals previous legislation, impacting financial institutions and reporting obligations.