Money laundering and terrorist financing: CNIL and its counterparts address European legislators
The context
On 20 July 2021, the European Commission presented a proposal for an EU AML/CFT Regulation aimed at better detecting transactions that could constitute the criminal offences of money laundering and terrorist financing. On 5 December 2022, the Council of the European Union adopted its position on the text by including provisions allowing private organisations subject to this regulation (banks, insurance companies, etc.) to share with each other information collected on their customers, with the aim of detecting possible criminal offences. They also introduce the possibility of reciprocal exchange of data between these private bodies and the competent public authorities (in particular, the financial intelligence units ). The concerns of data protection authorities On 28 March 2023, the CNIL and its counterparts in the EDPB sent a public letter to the European Parliament, the European Commission and the Council of the European Union. In this letter, the EDPB a