Towards the creation of a European anti-money laundering agency

October 28, 2020

Hat: Towards the creation of a European anti-money laundering agency

Amorce:

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.

Text:

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.

Url description: Euractiv

Url: https://www.euractiv.fr/section/economie/news/member-states-want-an-eu-authority-against-money-launderers/