European Union Anti-Money Laundering Directive

The European Union Anti-Money Laundering Directive is a set of laws aimed at preventing money laundering and terrorist financing in EU member states. It requires financial institutions and certain businesses to implement measures like verifying customer identities and reporting suspicious transactions. This helps ensure that funds are not obtained from illegal activities and protects the integrity of the financial system. The directive is regularly updated to adapt to emerging risks and enhance cooperation among member states, aiming for a unified approach to combat financial crime across Europe.