CYPRUS AMONG 18 COUNTRIES THAT DID NOT FULLY COMPLETE THE TRANSPOSITION OF THE ANTI-LAUNDERING DIRECTIVE - LETTER OF FORMAL NOTICE FROM THE COMMISSION - Filenews 25/9
Cyprus is among the 18 member states that did not notify a complete transposition of key provisions of the 6th Anti-Money Laundering and Countering the Financing of Terrorism Directive (Directive (EU) 2024/1640), according to what the European Commission announced on Friday, with the Commission launching infringement proceedings, sending a letter of formal notice to member states.
These provisions concern the access of competent authorities, self-regulatory bodies, obligated entities and persons with a legitimate interest to registers of beneficial owners. The 6th AML Directive focuses mainly on organisational and institutional issues of the preventive anti-money laundering framework, with the aim of addressing weaknesses in the Union's financial system and ensuring the consistent application of the relevant rules by all Member States. The Commission underlines that investor and public confidence in financial markets is highly dependent on an accurate disclosure system that ensures transparency in company beneficial ownership and control structures.
The deadline for the transposition of Articles 11, 12, 13 and 15 of Directive (EU) 2015/849 expired on 10 July 2026. Cyprus, as well as Austria, Belgium, Bulgaria, Czechia, Germany, Estonia, Greece, Spain, France, Croatia, Lithuania, Luxembourg, the Netherlands, Poland, Portugal, Romania and Finland, now have two months to complete the transposition and inform the Commission.
Cyprus is among the 18 member states that did not notify a complete transposition of key provisions of the 6th Anti-Money Laundering and Countering the Financing of Terrorism Directive (Directive (EU) 2024/1640), according to what the European Commission announced on Friday, with the Commission launching infringement proceedings, sending a letter of formal notice to member states.
These provisions concern the access of competent authorities, self-regulatory bodies, obligated entities and persons with a legitimate interest to registers of beneficial owners. The 6th AML Directive focuses mainly on organisational and institutional issues of the preventive anti-money laundering framework, with the aim of addressing weaknesses in the Union's financial system and ensuring the consistent application of the relevant rules by all Member States. The Commission underlines that investor and public confidence in financial markets is highly dependent on an accurate disclosure system that ensures transparency in company beneficial ownership and control structures.
The deadline for the transposition of Articles 11, 12, 13 and 15 of Directive (EU) 2015/849 expired on 10 July 2026. Cyprus, as well as Austria, Belgium, Bulgaria, Czechia, Germany, Estonia, Greece, Spain, France, Croatia, Lithuania, Luxembourg, the Netherlands, Poland, Portugal, Romania and Finland, now have two months to complete the transposition and inform the Commission.
