The European Commission launched a public consultation aimed at preparing a guidance on the rules applicable to the use of public-private partnerships in the framework of preventing and fighting money laundering and terrorist financing. The European Commission has noticed that in some cases the nature of the information exchanged within a public-private partnerships may limit its sharing and such sharing must abide by the data protection legal framework. The public consultation closes on the 2nd of November 2021. The public consultation is aimed at obtaining information regarding the following elements:
– The types of public-private partnerships currently operating in the EU Member States in the area of preventing and fighting money laundering and terrorist financing;
– The public authorities (e.g. Financial Intelligence Units, law enforcement authorities, supervisory authorities) and private sector entities participating in the partnership;
– The types of information exchanged within those partnerships and the measures put in place to guarantee the preservation of fundamental rights;
– The mechanisms put in place to measure the effectiveness and success of those partnerships (e.g. key performance indicators (KPIs) or any other performance metrics);
– The impacts and added value of the various public-private partnerships in the fight against money laundering and the financing of terrorism;
– The impacts on fundamental rights, including the presumption of innocence, as well as the possible impacts on the due process of criminal proceedings.