Source: OJ L, 2024/1620, 19.6.2024Current language: EN
- Anti-money laundering
Basic legislative acts
- Anti-money laundering authority regulation (AMLAR)
Article 42 Requests by the Authority for the initiation of a joint analysis
Summary What does Article 42 of the Anti-money laundering authority regulation (AMLAR) say?
This short article deals with the Authority's power to initiate joint analyses involving Financial Intelligence Units (FIUs).
It sits alongside Article 40, which sets out the broader framework for joint analyses, and covers the specific scenario where it is the Authority itself — rather than an FIU — that identifies the need for a joint analysis.
The article sets out a simple notification and response loop: the Authority informs the relevant FIUs and requests their participation, and those FIUs must respond with their decision, including reasons if they decline.
Important points:
- The Authority is required to inform concerned FIUs and request their participation when it identifies a potential need for a joint analysis.
- FIUs must respond to the Authority's request without undue delay, making best efforts to do so within five days of receipt.
- Where an FIU refuses to participate, it must provide the reasons for its refusal to the Authority, also making best efforts to do so within five days.
Springlex's summary of the article, a reading aid, not a substitute for the legal text.
Where the Authority identifies a potential need to conduct a joint analysis pursuant to Article 40 of this Regulation or Article 32 of Directive (EU) 2024/1640, it shall inform the concerned FIUs thereof and request them to take part in the joint analysis.
The concerned FIUs shall inform the Authority without undue delay, making best efforts to do so within five days of receipt of the request, of their decision concerning the request referred to in paragraph 1.
Where an FIU requested to take part in the joint analysis refuses a request made by the Authority pursuant to paragraph 1, it shall inform the Authority of the reasons for its decision without undue delay, making best efforts to do so within five days of receipt of the request.
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