Stricter rules to prevent money laundering in professional football from 2029

Stricter rules to prevent money laundering in professional football from 2029

On 17 January, the European Parliament concluded an agreement with the Council of the EU on new measures aimed at strengthening the EU's toolkit in combating money laundering, terrorist financing, and sanctions evasion. The provisional agreement acknowledges the high-risk nature of the football sector, expanding the list of obligated entities to include professional football clubs and agents. The rules, effective after a longer transition period of five years (compared to three for other entities), mandate professional football clubs to verify customer identity, monitor transactions, and report suspicious activities to Financial Intelligence Units (FIUs) from 2029. Member States apply flexibility, such as for less risky transactions, football clubs below the top league, and those with an annual turnover less than 5 million euros over two years. The adopted rules, namely the sixth Anti-Money Laundering (AML) directive and the EU “single rulebook” regulation , are part of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) package. The texts must now undergo formal adoption by both the Council and the Parliament before entering into force.

Disclaimer: This is a beta version preview. The tool may undergo further changes before the final launch.

Recent Posts

Second SIGGS 3.0 Multiplier Event offers first look at enhanced governance tool

The second Multiplier Event for the SIGGS 3.0 - Supporting the Implementation of Good Governance in Sport - project took place on 13 November in concomitance with the European Olympic Committees EU Office’s Special Competence Seminar. Attendees, including representatives from European National Olympic Committees and various sports federations, had an exclusive preview of the SIGGS […]

Read More
Artificial Intelligence in sport at the forefront of the EOC EU Office Special Competence Seminar

On 13 and 14 November, the EOC EU Office hosted a Special Competence Seminar on Artificial Intelligence (AI) in Sport. On the first day, partners of the EOC EU Office received updates on EU funding programmes and opportunities. A comprehensive update on the European political landscape was also provided, focusing on the newly elected Members […]

Read More
European Commissioner-designates under scrutiny as hearings kick off

On 4 November, the CULT Committee questioned Glenn Micallef, the Commissioner-designate responsible for Sport. In his speech, Micallef outlined his plans for the Commission’s work, emphasising the European Sport Model (ESM), sport diplomacy, and sport’s role in promoting healthy lifestyles, inclusion, and diversity. Members of the European Parliament (MEPs) raised questions about the ESM, particularly […]

Read More

Related Posts

November 18, 2024
Second SIGGS 3.0 Multiplier Event offers first look at enhanced governance tool

The second Multiplier Event for the SIGGS 3.0 - Supporting the Implementation of Good Governance in Sport - project took place on 13 November in concomitance with the European Olympic Committees EU Office’s Special Competence Seminar. Attendees, including representatives from European National Olympic Committees and various sports federations, had an exclusive preview of the SIGGS […]

November 18, 2024
Artificial Intelligence in sport at the forefront of the EOC EU Office Special Competence Seminar

On 13 and 14 November, the EOC EU Office hosted a Special Competence Seminar on Artificial Intelligence (AI) in Sport. On the first day, partners of the EOC EU Office received updates on EU funding programmes and opportunities. A comprehensive update on the European political landscape was also provided, focusing on the newly elected Members […]

November 8, 2024
European Commissioner-designates under scrutiny as hearings kick off

On 4 November, the CULT Committee questioned Glenn Micallef, the Commissioner-designate responsible for Sport. In his speech, Micallef outlined his plans for the Commission’s work, emphasising the European Sport Model (ESM), sport diplomacy, and sport’s role in promoting healthy lifestyles, inclusion, and diversity. Members of the European Parliament (MEPs) raised questions about the ESM, particularly […]

About us

The EOC EU Office is the House of European Sport, representing the European Olympic Committees (EOC), the IOC and other major sport organisations to the European institutions in Brussels.
CONTACT
crossmenu linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram