Widely varying completion times for money laundering cases across the European Union are hampering the efforts by financial institutions to manage emerging risks and trace illicit assets, say analysts. New figures published by the European Commission on Monday highlighted that the time taken to conclude criminal money laundering cases in 2014 and 2015 across the 28-member bloc ranged from an average of less than three months in Estonia to more than three years in Hungary. The data was included for the first time in the European Union's annual "Justice Scoreboard" to further measure the strength of judicial systems throughout the...
EU plans to deter criminals from moving assets between member states have exposed wide-ranging vulnerabilities in the current legislative system, say analysts.
print