The EU tries to rethink its faltering AML regime

Money laundering

The European Union is moving to change how it deals with money laundering, after a series of recent allegations that some member states are far too lax in their own approaches.

The European Commission (EC), the permanent civil service of the European Union, has suggested that the European Banking Authority obtain an expanded anti-money laundering (AML) mandate. If the proposed policy became law, national supervisors would still be the guardians of AML regimes. But the EBA would guard the

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