Senior compliance officers and financial-services industry executives in the European Union could see greater scrutiny of how they manage their firms' implementation of the bloc's anti-money laundering rules under plans pitched in a report by European lawmakers Wednesday.
Estonia took the rare step Tuesday of shuttering the local affiliate of a foreign lender, ordering Danske Bank to close in response to "profound and material" violations of anti-money laundering rules that "seriously damaged" the Baltic nation.
A largely overlooked provision in the European Union’s latest batch of anti-money laundering standards may place a new burden on compliance officers, say analysts.