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Directive (EU) 2024/1640 of the European Parliament and of the Council of 31 May 2024 on the mechanisms to be put in place by Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Directive(EU) 2019/1937, and amending and repealing Directive (EU) 2015/849 (Text with EEA relevance) article 48 CELEX: 32024L1640 Exchange of information in relation to implementation of group-wide policies in third countries
Supervisors, including AMLA, shall inform each other of instances in which the law of a third country does not permit the implementation of the policies, procedures and controls required under Article 16 of Regulation (EU) 2024/1624. In such cases, coordinated actions may be taken by supervisors to pursue a solution. In assessing which third countries do not permit the implementation of the policies, procedures and controls required under Article 16 of Regulation (EU) 2024/1624, supervisors shall take into account any legal constraints that may hinder proper implementation of those policies, procedures and controls, including professional secrecy, an insufficient level of data protection and other constraints limiting the exchange of information that may be relevant for that purpose. |