July 16 (SeeNews) - The Court of Justice of the European Union on Thursday fined Romania 3 million euro ($3.43 million) for delays and incomplete application of the bloc's rules against money laundering and terrorist financing, it said in a statement.
Romania has not adopted the national measures transposing Directive 2015/849 nor notified such measures to the European Commission and has failed to fulfil its obligations under the directive, the EU court said in a press release.
Directive 2015/8491 aims to prevent the use of the EU’s financial system for the purposes of money laundering and terrorist financing. Member states had to transpose that directive into their national law by June 26 2017 and notify the European Commission of the measures adopted in that regard.
The European Court of Justice is the supreme court of the European Union in matters of European Union law. The Court of Justice is composed of 27 judges and 11 advocates general.
($=0.875 euro)