The reform of the fight against money laundering and terrorism financing: from the 2012 fatf recommendations to the new EU legislation

1. Introduction to the FATF. 2. The Mutual Evaluation Process. 3. The multidisciplinary approach of the AML/CFT global standards. 4. ML as a ‘EU Crime’? 5. The New EU AML/CFT Legislation. 5.1 Keeping up with Global Standards: The Adoption of a Fourth EU AML Directive and the Protection of the Internal Market. 5.2 The Scope of the New AML/CFT Directive. 5.3 The Risk-based Regulatory Framework. 5.4 Stricter Obligations Related to Customer Due Diligence Procedures. 5.5 More Duties Imposed on Other Stakeholders. The Institution of Central Registers on Beneficial Ownership. 5.6 Reporting Suspicious Transactions. 5.7 Record Keeping Obligations. 5.8 Reinforced Cooperation between National FIUs. 5.9 Enforcement of the Obligations. The Strengthening of Administrative Sanctions. 5.10. Increased Focus on Data Protection. 5.11 Increased Effectiveness?