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Towards the creation of a European anti-money laundering agency

publié le 28 October 2020

EU finance ministers should call for the creation of a European anti-money laundering authority and urge the bloc to harmonise anti-money laundering rules.

Money laundering is a persistent problem within the European ship, despite the five revisions of its legal framework. The Danske Bank scandal in Copenhagen in 2018 highlighted the shortcomings in this area, having allowed €200 billion of dubious origin to pass through the bloc’s internal market.

Member states are now ready to tackle the two main problems with the current system: loopholes in EU legislation due to its various transpositions into national law and the lack of a central supervisory body.

The latest draft conclusions on money laundering and terrorist financing are expected to be adopted at the next meeting of finance ministers on 4 November, although they are still subject to change.

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