AML EXPERTS GIVE SCEPTICAL WELCOME TO EU REFORM PACKAGE, STRESSING NEED FOR ROBUST IMPLEMENTATION
November 2nd, 2021
The comprehensive set of reforms to the European Union (EU) AML/CFT system the European Commission proposed July 20 through a package of four legislative initiatives (1) could eliminate weaknesses in the fight against dirty money, but success will still hinge on implementation in the member states, experts have argued. Finnish social democrat MEP Eero Heinäluoma, told MLB that among “key reasons” that only 1.1% of criminal profits are confiscated at EU level and 98.9% remain at the disposal of criminals, (citing a 2016 report from Europol) (2), was that the ...
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