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REPORT (COM(2021)0420 – C90339/2021 – 2021/0239(COD))

On the proposal for a regulation of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing

A-9-2023-0151

Committee on Economic and Monetary Affairs Committee on Civil Liberties, Justice and Home Affairs · Rapporteur: Eero Heinäluoma, Damien Carême

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✦ In short · AI summary of this text, generated 13 Oct 2026

Written by a language model from the full text only; every figure comes from the text. The paragraph links open the paragraph a statement rests on — check the text itself before relying on it.

Parliament's amended version of the Commission proposal for a regulation on preventing the use of the financial system for money laundering and terrorist financing. It widens the list of obliged entities to include crypto-asset service providers, NFT platforms, crowdfunding platforms, football clubs and agents, wealth managers, property developers and traders in luxury goods. It bans citizenship-by-investment schemes and sets minimum requirements for residence-by-investment schemes, and bans anonymous crypto-asset accounts. It lowers the EU-wide cash payment limit to EUR 7000 and requires enhanced due diligence for high-risk customers, politically exposed persons and high-net-worth individuals. It gives AMLA tasks to develop technical standards, monitor third-country threats and maintain a public register of shell banks and unlicensed crypto-asset service providers.

Committee position. The committees propose to amend the Commission proposal by widening the scope of obliged entities, banning citizenship-by-investment schemes, lowering cash limits, strengthening sanctions screening and giving AMLA new tasks.

Key points

  1. Parliament adopts its first-reading position amending the Commission proposal on preventing money laundering and terrorist financing through the financial system.
  2. The amended text adds crypto-asset service providers, NFT platforms, DAO and DeFi arrangements, and crowdfunding platforms to the list of obliged entities.
  3. It adds high-level professional football clubs, football associations and sports agents in the football sector as obliged entities.
  4. It adds wealth or asset managers, property developers, certified debt collectors and traders in luxury goods to the list of obliged entities.
  5. Member States shall not put in place citizenship-by-investment schemes, and must apply minimum measures for residence-by-investment schemes.
  6. Credit institutions, financial institutions and crypto-asset service providers are prohibited from keeping anonymous accounts, passbooks, safe-deposit boxes or crypto-asset accounts.
  7. The EU-wide limit for large cash payments is set at EUR 7000, with Member States able to adopt lower limits.
  8. Enhanced due diligence is required for high-net-worth customers, politically exposed persons for at least 24 months after leaving office, and customers linked to offshore financial centres.
  9. Obliged entities must screen customers and beneficial owners against targeted financial sanctions, and credit and financial institutions must screen regularly and when new sanctions are adopted.
  10. AMLA is tasked with developing draft regulatory technical standards on internal policies, group-wide procedures, beneficial ownership, sanctions screening and reporting formats.
  11. AMLA shall monitor third countries posing a specific and serious threat, and may identify non-EU credit or financial institutions posing such a threat.
  12. AMLA shall establish a public register of shell banks and unregistered or unlicensed crypto-asset service providers, and credit and financial institutions must not have correspondent relationships with them.

Who is affected

  • Obliged entities including credit and financial institutions, crypto-asset service providers, crowdfunding platforms, estate agents and traders in luxury goods.
  • High-level professional football clubs, football associations and sports agents in the football sector.
  • Member States, which must not grant citizenship by investment and must apply minimum measures for residence-by-investment schemes.
  • Politically exposed persons and their family members, including siblings, subject to enhanced due diligence.
  • High-net-worth customers and beneficial owners, subject to specific enhanced due diligence.

Figures and deadlines

  • EUR 10 000 threshold for occasional transactions, with lower thresholds for higher-risk sectors.
  • EUR 7000 EU-wide limit for large cash payments.
  • EUR 1 000 threshold for occasional crypto-asset transfers requiring customer due diligence.
  • EUR 2 000 threshold for gambling transactions, or EUR 1 000 for online gambling.
  • EUR 150 maximum stored for electronic money exempted from certain due diligence measures.
  • 24 months minimum enhanced due diligence after a person leaves a prominent public function.
  • EUR 1 000 000 minimum financial or investable wealth for high-net-worth customer definition.
  • EUR 7 000 000 annual turnover for high-level professional football club definition.

Legal basis: Article 294(2) and Article 114 of the Treaty on the Functioning of the European Union.