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Regulation (EU) 2024/1624 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing

This regulation establishes a directly applicable single rulebook for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) across the…

What Regulation (EU) 2024/1624 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing requires

This regulation establishes a directly applicable single rulebook for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) across the EU, imposing harmonised Customer Due Diligence (CDD) measures (Article 16), a unified definition of beneficial ownership (Article 45), and a Union-wide limit of EUR 10,000 on large cash payments (Article 59) for all obliged entities.

Pillar: Financial Crime, AML & Sanctions · Authority: European Parliament and the Council of the European Union · Version: 1.0.0 · Last updated:

Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32024R1624

SHA-256 integrity: 7eefd87d12753e1d9c0b555dccf278bc614cff1384c4b8db4cc3780d3b124fd9

Primary Citations — 6 traced to source

  • Regulation (EU) 2024/1624, Chapter III, Section 1: Customer due diligence measures (Articles 16-27)
  • Regulation (EU) 2024/1624, Chapter III, Section 2: Enhanced due diligence (Articles 28-44)

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