HUNGARY PUSHES FORWARD ON AML CONTROLS AFTER EMERGING FROM CHAOTIC 1990s
February 1st, 2011
BY MARK ROWE and KEITH NUTHALL
HUNGARY'S strategic location in central Europe, a cash-based economy, and a well-developed financial services industry, makes it important to both pan-European anti-money laundering enforcement, and indeed, to criminals themselves.
Generally, the nature of money laundering that goes on in Hungary can be serious but stops short of funnelling funds to terrorist organisations. Assessments from the Council of Europe's anti-money laundering (AML) committee MONEYVAL reported in September that money laundering in Hungary is related to a ...
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