EU officials took the unprecedented step Thursday of directly ordering a member state's financial regulator to improve its supervision of banks for anti-money laundering purposes.
The only serving EU minister named in records leaked from Panamanian law firm Mossack Fonseca failed Tuesday to clear himself from allegations of money laundering during a grilling by a panel of European lawmakers in Malta.
Financial investigators in Malta are sifting through transactional records, internal emails and other data at Pilatus Bank for evidence of money laundering and other illicit activity, a senior regulator told European lawmakers Tuesday.
European Commission Vice-President Valdis Dombrovskis issued remarks concerning the 2019 Spring Package of the European Semester, during which he underlined failures by several European Union countries to to address shortcomings in anti-money laundering enforcement.
June 5, 2019
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