EU APPROACHES CONTROVERSIAL SHAKE-UP OF ITS ANTI-MONEY LAUNDERING CONTROLS
December 2nd, 2020
THE EUROPEAN Union (EU) is debating a major overhaul of its anti-money laundering (AML) legislation, forcing member states to abide by its AML rules to the letter, and creating a powerful EU AML supervisory agency. This would be the first such supranational body worldwide, working alongside a new collaborative system for financial intelligence units (FIUs). Keith Nuthall explores the implications.
The creation of a pan-national anti-money laundering body within the EU would be a major shift in how the world fights dirty money flows and terrorist finance ...
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