Art. 66 Cooperation with authorities in charge of implementing targeted financial sanctions | Sixth anti-money laundering (AML 6) directive | AML

This article sits within the broader cooperation framework of the Directive and focuses specifically on the relationship between three distinct types of authority: supervisors, FIUs, and the authorities responsible for implementing targeted financial sanctions.

It requires these bodies to cooperate closely and share relevant information, while placing a clear restriction on how any confidential information exchanged can be used.

It also carves out a national exception allowing Member States to block cooperation where it would interfere with an ongoing inquiry or proceedings.

Important points:

Member States are required to ensure that supervisors, FIUs, and targeted financial sanctions authorities cooperate closely and share information relevant to their respective tasks.
Confidential information exchanged under this article may only be used for the exercise of functions within the scope of this Directive or other Union legal acts, and only in related administrative or judicial proceedings.
Member States may prohibit cooperation between these authorities where it would impinge on an ongoing inquiry, investigation, or criminal or administrative proceedings.

1. Member States shall ensure that supervisors, their FIU and the authorities in charge of implementing targeted financial sanctions cooperate closely with each other within their respective competences and provide each other with information relevant for the performance of their respective tasks.
2. Confidential information exchanged pursuant to this Article shall be used by the authorities referred to in the first subparagraph solely for the exercise of their functions within the scope of this Directive or other Union legal acts and in the context of administrative or judicial proceedings specifically related to the exercise of those functions.
1. Member States may prohibit the authorities referred to in paragraph 1 from cooperating when such cooperation, including the exchange of information, would impinge on an ongoing inquiry, investigation or proceedings in accordance with the criminal or administrative law of the Member State where the authorities are located.