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EU Updates Money Laundering Blacklist, Advances Sweeping AML Reforms

By Koos Couvée

The European Union's executive branch advanced a raft of measures Thursday to strengthen the bloc's defenses against financial crime, including a new blacklist of countries that present a high threat of illicit finance and proposals for an EU-wide anti-money laundering supervisor. With its wide-ranging plan to enhance financial intelligence-sharing among the EU's 27 nations and eliminate variances in how each promulgates and enforces AML rules, officials with the European Commission said they aim to clamp down on grand scale money-laundering scandals of the sort that have engulfed a number of European lenders over the past two years. "There should be...

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