Art. 68 Penalties | Anti-money laundering regulation (AMLR) | AML

This article establishes the penalty framework for breaches of the beneficial ownership transparency chapter (Chapter IV).

It operates on two levels: Member States are responsible for creating and enforcing their own national penalty regimes, while the Commission is tasked with supplementing the regulation through delegated acts that provide a common EU-level framework for classifying breaches and setting penalties.

The article connects directly to Article 85, which governs the Commission's delegated act powers.

Important points:

Member States are required to lay down and implement rules on penalties for breaches of this Chapter, and must notify the Commission of those rules by 10 January 2025.
The Commission is required to adopt delegated acts by 10 July 2026 defining the categories of breaches, the persons liable, gravity indicators, and criteria for setting penalty levels.
The Commission is required to regularly review those delegated acts to ensure the penalties remain effective, dissuasive and proportionate.

1. Member States shall lay down rules on the penalties applicable to breaches of the provisions of this Chapter and shall take all measures necessary to ensure that they are implemented. The penalties provided for shall be effective, proportionate and dissuasive.
2. Member States shall by 10 January 2025 notify the Commission of those rules on penalties together with their legal basis and shall notify it, without delay, of any subsequent amendment affecting them.
1. By 10 July 2026, the Commission shall adopt delegated acts in accordance with Article 85 to supplement this Regulation by defining:
  1. the categories of breaches that are subject to penalties and the persons liable for such breaches;
  2. indicators to classify the level of gravity of breaches that are subject to penalties;
  3. the criteria to be taken into account when setting the level of penalties.
2. The Commission shall regularly review the delegated act referred to in the first subparagraph to ensure that it identifies the relevant categories of breaches and that the related penalties are effective, dissuasive and proportionate.