Eliminating variances in anti-money laundering rules and supervision in the European Union requires a regulation that would apply uniformly across the bloc's 28 member nations, and an EU-level agency to ensure compliance, according to officials.
EU lawmakers and national leaders reached preliminary agreement Thursday on a plan to improve how European financial institutions are supervised for anti-money laundering purposes.
The European Commission is analyzing variances between EU-wide and national anti-money laundering rules and conducting a range of other assessments before embarking on further AML-related reforms, a senior official told ACAMS moneylaundering.com.
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