CJEU Invalidates Public Anti-Money Laundering Registers on Privacy Grounds
On November 22, 2022, the Grand Chamber of the Court of Justice of the European Union (CJEU) issued its judgment in joint cases C‑37/20 and C‑601/20, holding that provisions of an EU anti-money laundering directive relating to the publication of beneficial ownership registers was incompatible with the EU Charter of Fundamental Rights (CFR).
The Court found that while deterring money laundering was a valid objective, making data available to the general public was neither a necessary nor proportionate way to achieve this objective, so contravened the CFR. The judgment demonstrates the Court’s view that sharing a person’s personal data with a third party is a serious intrusion, and that the Court will carefully scrutinize any such sharing.
Source: CJEU Invalidates Public Anti-Money Laundering Registers on Privacy Grounds | Inside Privacy
