Madrid AML/CFT Conference: “Prospects, strengths and challenges”

The European Union (EU) is currently processing a legislative package of measures to strengthen the rules against money laundering and the financing of terrorism. This package, presented by the European Commission on July 20, 2021, as part of the commitments made in its Action Plan for a comprehensive community policy on the prevention of these crimes, consists of four legislative proposals:

• A new Directive on combating money laundering and the financing of terrorism that will replace the current Directive (EU) 2015/849.
• A new Regulation that will harmonize European rules in the matter as a single normative code.
• The revision of Regulation 2015/847/EU regarding fund transfers in relation to cryptocurrency operations.
• The establishment of a new European Authority against Money Laundering.

In this context, the holding of discussion forums driven by economic and civil institutions to analyze and deeply debate the current challenges facing the EU in this area becomes particularly important. Precisely, this is the objective of the Madrid AML/CFT Conference: “Prospects, strengths and challenges” organized in Madrid by the Asociación Española de Banca (AEB), CECA, the Unión Nacional de Cooperativas de Crédito (UNACC), the Unión Española de Entidades Aseguradoras y Reaseguradoras (UNESPA), the Colegio de Registradores de la Propiedad, Mercantiles y Bienes Muebles de España, the Consejo General del Notariado, and the Asociación Madrid Futuro, in collaboration with the Ministry of Economic Affairs and Digital Transformation, the Community of Madrid, and the City Council of Madrid. This event features the attendance and participation of international experts and prominent figures to address, among other objectives, an analysis and debate of the challenges facing the fight against money laundering and the prevention of the financing of terrorism, as well as to analyze and share public and private best practices and experiences in this area. Among the attendees was Raquel Cabeza, Corporate Director of Risks and Compliance at CECA.