The European Council has approved an “action plan” to plug holes in the bloc’s anti-money laundering (AML) supervision framework and tasked the European Commission with thrashing out longer-term proposals in light of a slew of scandals at major banks.
Valdis Dombrovskis, commission vice president with responsibility for financial services, described the action plan as a “quick fix” after its adoption at a meeting of European finance ministers at the Economic and Financial Affairs Council in Brussels on Tuesday.
To continue reading...
Our Key Benefits
PaymentsCompliance is a premium information service for compliance, legal and regulatory professionals. Our award-winning regulatory monitoring platform is used by many of the world's leading payment services providers and e-money institutions, regulators, challenger banks, fintechs and law firms.
We keep our clients informed of critical regulatory change and help them understand, with in-depth analysis, when change is coming and the implications for their organisation.
We provide our clients with a quantifiable and significant ROI by reducing the amount of time and money spent monitoring and analysing regulatory environments in multiple jurisdictions.