The FIU Newsletter No. 2 – 2021. Anti-money laundering developments and the impact of Brexit
The FIU has published the second edition of 2021 of its newsletter concerning the anti-money laundering developments, consequences of Brexit and the European mechanism for the Financial Intelligence Units.
Regarding Brexit, the FIU highlights, on 31st December 2020, the United Kingdom left the European Union and it was signed the “Trade Agreement”, an Agreement on trade and cooperation, but it does not contain any provisions about anti-money laundering.
The “Trade Agreement does not address the issue of the collaboration between English and European Financial Intelligence Units. For example, each FIU has no obligation to send ”cross-border” suspicious transaction reports or to transpose the EU Directive no. 2019/1153 about the domestic and the international partnership between the Financial Intelligence Units and the investigative authorities.
The anti-money-laundering system of the United Kingdom could develop in opposite way compared to European system. The FIU, communicates to avoid uncertainties and discontinuity in cooperation among the FIUs.
Read or download here:
Newsletter No. 2 – February 2021
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