European Union Member States are expected to implement Directive 849/2015/EU – the so-called “Fourth AML Directive” – by transposing it into their national legislation by 26 June 2017. These new supranational rules addressing the threat of money laundering and terrorist financing considerably modify the current legislative framework, thereby aligning it to the relevant AML/CFT international standards also in the area of transparency.
The most prominent change pertains to the holistic risk-based approach to mitigating AML risks, but further innovations relate to additions to the list of predicate offences – with notable reference to tax crimes –, to beneficial ownership rules and the central UBO register, and to a more harmonized sanctioning regime. The required amendments to Italian legislation are currently being lively discussed at parliamentary level.
In such a rapidly changing legislative environment, the European Centre for Anti-Money Laundering and Anti-Corruption Studies is pleased to announce the Second Edition of the Conference on “The fight against Corruption and Money-laundering between a punitive and a preventive approach”, taking place in Milan on 25 May 2017, Palazzo Reale offering an exclusive setting to the debate. The forum aims to blend legal, ethical and economic approaches to the matters at hand, in order to provide obliged entities with important recommendations and suggestions on how to effectively fulfil their obligations. Participation is free of charge.
The European Centre for Anti-Money Laundering and Anti-Corruption Studies will take the opportunity to present a recent statistical analysis on the national incidence of offences against the public administration, as well as a correlation with data pertaining to suspicious activity reports filed with the Italian Financial Intelligence Unit.
Participants will also have the chance to attend to the presentation of Caylos, a software application supporting entities required to offer active cooperation to the relevant AML authorities, starting from customer due diligence. Caylos – already integrated with the Fourth AML Directive criteria – detects and analyses suspicious or unusual transactions and guarantees regulatory compliance, thereby avoiding the risk of heavy fines.