The European Commission is sending Romania, alongside Greece and Ireland, before the Court of Justice of the European Union, for not transposing in national legislation the 4th Directive on fighting money laundering. Likewise, the Commission proposed that a lump sum and penalties be paid for each day in which the transposing of the directive is being delayed.
“Money laundering and the financing of terrorism affects the whole European Union. We cannot afford to allow any EU country to be the weak link. Money laundered in one country can and often actually does support crime in another country. That is precisely why we are asking all member states to take the necessary measures to combat money laundering,” European Commissioner for Justice Vera Jourova said.
EU member states should have transposed the directive in their national legislation by 26 June 2017.
In the meantime, as a result of the Panama Papers revelations and of terrorist attacks in Europe, the EC has already proposed a 5th directive that came into force on 9 July 2018, and EU states will have to implement it by 10 January 2020.