Data protection rules applicable to Financial Intelligence Units: still no clarity in sight

Abstract Financial information can play a key role in tackling money laundering, terrorist financing and combatting serious crime more generally. Preventing fighting laundering the of terrorism were top priorities European Union’s (EU) Security Strategy for 2020-2025, which might explain fast developments regarding legislative measures to further regulate anti-money (AML) counter (CTF). In May 2020, Commission put forward an Action Plan establish Union policy on shortly afterwards, proposed new AML Package. Intelligence Units (FIUs) crucial analysing exchanging concerning unusual suspicious transactions, serving as intermediaries between private sector law enforcement authorities (LEAs). Such includes personal data, is protected under EU data protection acquis . The latter constituted two main laws, General Data Protection Regulation (GDPR), applies general processing so-called Law Enforcement Directive (LED) that applicable when competent process purposes. This Article argues current legal framework CTF legislation unclear regime by FIUs Package does little or nothing clarify this dilemma. order contribute discussion FIUs, assessment puts arguments against application LED such processing, taking into account relevant texts protection.