Third AML directive remains under fire
LONDON -- The EU's third money-laundering directive is winding its way through the approval process within the European Commission and Parliament, despite serious objections to the legislation from many quarters.
The Economic and Monetary Committee of the Parliament initiated debate on the directive at its November 23 meeting. Also, the Council of Economics and Finance Ministers of the European Union -- commonly known as the Ecofin Council, or simply Ecofin -- is said to be ready to finalise its version of the legislation in early December. Ecofin is composed of the economics and finance ministers of the 25 member states.
The EU's presidency, currently held by the Netherlands, has been aggressively
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