EU LAUNCHES POWER GRAP OVER AML/CFT POLICY IN EUROPE
May 2nd, 2020
THE EUROPEAN Commission has confirmed that it wants the European Union (EU) to significantly expand its AML/CFT powers, releasing an action plan that - if enacted - would significantly reduce the autonomy of the current 27 member states over dirty and terror money controls.
Of critical importance, the EU executive has said it will propose by March 2021 an comprehensive EU regulation on ML and TF that will replace the series of directives that have coaxed member states into intensifying their AML/CFT policies since 1990. An EU regulation, if passed, becomes the ...
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