By Elizabeth Hearst for AMLi
The Court of Justice of the European Union has today issued a landmark ruling that provisions laid out in the EU’s Fourth Anti-Money Laundering Directive (4AMLD) for a public beneficial ownership database is “invalid”.
In a statement, the Court said that such provisions for the information on the beneficial ownership of corporate and legal entities to be accessible to the general public is invalid.
Such access to beneficial ownership information constitutes a “serious interference with the fundamental rights to respect for private life and to the protection of personal data,” said the Court.
Subscribe now to have unlimited access
With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!
