The European Union's planned new anti-money laundering agency will have broad powers to subject the bloc's "riskiest" financial institutions—and their national supervisors—to rigorous scrutiny, a draft regulation obtained by ACAMS moneylaundering.com shows.
EU officials are considering creating a European financial intelligence unit to more effectively combat cross-border criminal activity as part of a wider plan to centralize and harmonize anti-money laundering supervision in the bloc, a draft document shows.