07.07.2023
Anti-money laundering Regulation – Leaseurope actively participating in the EU discussions
The EU Regulation on “the prevention of the use of the financial system for the purposes of money laundering or terrorist financing” (AML Regulation – AMLR) is under ongoing examination by the two EU co-legislators, the European Parliament (EP) and the Council of the EU.
Leaseurope has been closely monitoring this file and has been engaging with EU stakeholders to raise awareness that leasing is among the factors that may contribute to reducing the risk of ML/TF, in accordance with the March 2021 EBA Guidelines on the ML/TF Risk Factors. Leaseurope also advocated for more proportionate requirements with regards to the obligation to identify and verify the identity of the beneficial owner, the obligation to report discrepancies between the national beneficial owner registers and the actual information collected as well as the possibility to outsource AML tasks to third party service providers.
Several amendments have been proposed by the EP and the Council which take on board a number of Leaseurope’s comments. The EU legislative procedure is still ongoing. Leaseurope will keep following the developments on this file and promoting its key messages identified by its membership.
