AML Package Agreement between EU Council and Parliament

• Expanding the list of obliged entities to new bodies including CASPs;
• New EDD measures for cross-border correspondent relationships for crypto-asset service providers;
• Establishing a maximum limit of €10.000 is for cash payments;
• Making the rules on beneficial ownership more harmonised and transparent;
• Requiring obliged entities to apply EDD measures to occasional transactions and business relationships involving high-risk third countries;
• Verifying beneficial ownership information submitted to the central register;
• Establishing the responsibilities of state FIUs and supervisors.

The agreed text will be finalised and presented to member states’ representatives in the Committee of permanent representatives and the European Parliament for approval. If approved, the Council and the Parliament will adopt the texts before they enter into force.