On 22 November 2022, the #CJEU has found that the provision of the Fifth Anti-Money Laundering Directive (2018/843) is invalid, which allows, in all Member States, to any member of the general public access to the central #Register of #Beneficial #Ownership. The CJEU considered that this provision infringes the right to respect for private and family life and the right to the protection of personal data according to Articles 7 and 8 of the #Charter of #Fundamental #Rights of the #European #Union. The #Member #States must now comply with and implement this decision on a national level. It seems likely that #France and #Germany will again attach the consultation of the register to the previous requirement under the Fourth Anti-Money Laundering Directive, i.e. the demonstration of a legitimate interest. However, it remains to be seen how these two Member States will ultimately implement the decision. The decision does not change the right of consultation by state authorities or by the person obliged to comply with money laundering regulations.

#europeanunion #moneylaundering #benficial #ownership