Three ways to bolster flawed AML/CFT in the EU

EU must address significant weaknesses if it wants to combat illicit money flows, write Panicos Demetriades and Radosveta Vassileva

Money laundering
Image: Central Banking montage/Getty

A raft of major money-laundering scandals, including the controversy with Danske Bank’s Estonian subsidiary, have helped expose significant weaknesses in the European Union’s anti-money laundering and combating the financing of terrorism (AML/CFT) framework. It is by now widely accepted that these weaknesses emanate from: 1) variations in AML/CFT implementation and enforcement, which remains the responsibility of member states; and 2) inadequate co-ordination between AML/CFT bodies across member

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account