White Collar Crime, Romania updates

 
One step closer to enforcing Fourth AML Directive: changes for private companies regarding ownership transparency
Schoenherr
  • Romania
  • 02 July 2018

The government recently approved a draft legislation transposing the Fourth Anti-money Laundering Directive and introducing, among other things, important changes for private companies with regard to their reporting duties and transparency of ownership. Some of the new requirements for non-listed companies are of particular importance, as they will be key for combating money laundering and terrorism financing. The bill will also introduce stricter reporting duties and penalties for non-compliance.

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