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Dec 07, 2017 16:26 EEST
SOFIA (Bulgaria), December 7 (SeeNews) – The European Commission said on Thursday it has urged Bulgaria and Romania to transpose the EU directive on anti-money laundering into their national legislation.
The two countries have not notified any transposition measures and the draft laws are still in their national legislative process, the European Commission said in a monthly summary of its infringement decisions.
The directive aims to strengthen the existing anti-money laundering requirements and improve the fight against money laundering and terrorism financing, the Commission said.
The two countries had until June 26 to transpose the directive and, after failing to do so, the Commission sent them letters of formal notice from in July.
If the two countries fail to bring their national legislation into line with EU law within next two months, the Commission may decide to refer the cases to the Court of Justice of the EU.
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