News World Ireland, Romania fined by EU top court over anti-money laundering rules

Ireland, Romania fined by EU top court over anti-money laundering rules

The European Union’s top court fined on Thursday Romania and Ireland for delays and incomplete application of the bloc’s rules against money laundering, it said in a statement.

Romania was ordered to pay to the European Commission a lump sum of 3 million euros, while Ireland was fined 2 million euros.

“Both member states failed to transpose in full, within the period prescribed, the directive on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing,” the court said, referring to anti-money laundering rules adopted by the EU in 2015.

Those rules reinforced surveillance requirements for banks, lawyers and accountants and mandated more transparency on company owners.

(Reuters)

Top Stories

Lebanon donor video conference-Macron urges ‘fast, effective response’

  'We must act quickly and effectively so that assistance is channeled where it's most needed', urged French President Emanuel Macron, opening a Lebanon donor...

‘Volunteer doctors Cyprus’ in Beirut to assist

  Α three member delegation of 'Volunteer Doctors Cyprus', headed by paediatric surgeon Dr.Eleni Theocharous is in Beirut to provide medical care and humanitarian assistance. It...

Fire breaks out on four fronts near Prasteio Aydimou-Prasteio evacuated (UPDATE 2)

  A fire broke out just before two this afternoon near the Prasteio Aydimou community in Limassol. The fire service spokesman Andreas Kettis wrote in his...

Deadly Greece floods kill 5, including 8 month old baby (UPDATE)

  At least five people were killed when torrential rain and thunderstorms caused flash flooding on the Greek island of Evia over the weekend, officials...

UK PM says schools must open in September

  British Prime Minister Boris Johnson said reopening schools in September was a social, economic and moral imperative and insisted they would be able to...

Taste

Octopus ‘Kathisto’ (or Octopus braised in Wine)

Ingredients: 1/2 cup Greek extra virgin olive oil 2 medium onions, chopped fine 1 large octopus, about 2kg (cleaned and kept whole) 3/4 cup dry red wine 1/3 cup...

Homemade lemonade

Ingredients: 1 cup lemon juice 1 cup sugar Method: Thoroughly wash the lemons with soap and warm water. Roll each lemon with the palm of your hand, pressing...

‘Striftaria’ mini cheese pies

Ingredients 1 ½ cup milk 2 tbsps. flour 4 tsps. of butter 3 eggs, slightly beaten + 1 extra with 1 tbs. of milk for spreading 1 pack of...

Mini potato canapes baked on salt

Ingredients Serves: 12 1kg small Cypriot potatoes rock salt, as needed 250g salted butter 300ml full fat cremé frâiche 1 pot cod or salmon roe Method Prep:20min › Cook:35min › Ready in:55min Take...