EU threatens legal action against Italy, Latvia and Portugal over AML laws

The European Commission has opened infringement proceedings against Italy, Latvia and Portugal over failings in the way their national legislation applies the European Union's (EU) 5th anti-money laundering directive (5AMLD), which took effect in January 2020.

By Sara Lewis, in Brussels

The European Commission has opened infringement proceedings against Italy, Latvia and Portugal over failings in the way their national legislation applies the European Union's (EU) 5th anti-money laundering directive (5AMLD), which took effect in January 2020.