Ireland fined by EU top court over anti-money laundering rules
The European Union’s top court has fined Ireland for delays and incomplete application of the EU’s rules against money laundering and terrorist financing, it said in a statement.
The EU Court of Justice ordered Ireland to pay to the European Commission a lumpsum of €2 million, while Romania was fined €3m.
“Both member states failed to transpose in full, within the period prescribed, the directive on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing,” the court said, referring to anti-money laundering rules adopted by the EU in 2015.
Those rules reinforced surveillance requirements for banks, lawyers and accountants and mandated more transparency on company owners.
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