Source: OJ L, 2024/1624, 19.6.2024

Article 87 Review

Summary What does Article 87 of the Anti-money laundering regulation (AMLR) say?

This is a review and reporting article, placing an obligation on the Commission to periodically assess how the Regulation is working in practice.

Starting from 10 July 2032, and then on a three-yearly cycle, the Commission must submit a report to the European Parliament and the Council.

The first such review has a defined scope, covering two specific areas: the functioning of national suspicious transaction reporting systems and the effectiveness of the beneficial ownership transparency framework.

Important points:

The Commission is required to review the application of this Regulation and report to the European Parliament and the Council by 10 July 2032, and every 3 years thereafter.
The first review must assess national suspicious transaction reporting systems, including obstacles and opportunities for a single Union-level reporting system.
The first review must also assess whether the beneficial ownership transparency framework adequately mitigates risks associated with legal entities and legal arrangements.

Springlex's summary of the article, a reading aid, not a substitute for the legal text.

By 10 July 2032, and every 3 years thereafter, the Commission shall review the application of this Regulation and submit a report to the European Parliament and to the Council.
The first review shall include an assessment of:
1. the national systems for reporting of suspicions pursuant to Article 69 and obstacles and opportunities to establish a single reporting system at Union level;
2. the adequacy of the beneficial ownership transparency framework to mitigate risks associated with legal entities and legal arrangements.

Table of contents

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