Brussels' Money Laundering Proposals Met With Scepticism

The European Commission’s plans to change EU anti-money laundering (AML) rules from directives into regulations will not solve the underlying problem of lacklustre supervision, legal experts have said.

Valdis Dombrovskis, the commissioner in charge of financial services, last week decried the blight of money laundering on the EU’s banking sector and took up a recommendation from officials to begin implementing AML rules as regulations instead of directives.

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