Europe's AML focus under attack
BARCELONA, SPAIN – Experts have criticised the way European countries are waging war against money laundering and terrorist financing, accusing politicians and regulators of focusing solely on strategy and ignoring tactics.
Speaking at a conference in Spain, Jürgen Kapplinghaus, chief prosecutor and deputy national member for Germany at Eurojust, a new EU body created to help co-ordinate the fight against organised crime, said: "We have in Europe all the measures we need to fight money laundering effectively. [But] we don't implement them correctly."
Kapplinghaus focused on the fact that a number of member states have been slow to implement the second money laundering directive, and some have "badly implemented" it
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 info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Regulation
Adapting FRTB strategies across Apac markets
As Apac banks face FRTB deadlines, MSCI explores the insights from early adopters that can help them align with requirements
Republican SEC may focus on fixed income – Peirce
Commissioner also wants a revival of finders’ exemption, more guidance for UST clearing
Streamlining shareholding disclosure compliance
Shareholding disclosure compliance is increasingly complex due to a global patchwork of regulations and the challenge of managing vast amounts of data
Banks take aim at Gruenberg’s brokered deposit rule
Regulatory lawyers question need to reverse 2020 rulemaking just four years later
Time running out to backload Emir derivatives reporting
Significant slice of legacy trades still not ready for new formats, as October 26 deadline looms
Gensler to stick to Treasury clearing timetable
SEC chief promises to keep up the pressure for done-away trades
Clearing houses fear being classified as Dora third parties
As 2025 deadline looms, CCP and exchange members seek risk information that’s usually deemed confidential
Citizens’ growth won’t bow to regulatory thresholds, CRO says
Risk Live: Bank faces stricter capital and liquidity requirements if it crosses $250 billion in assets
