Fed Up EU Commission Backs Legal Shift On Money Laundering Directives

The European Commission has thrown its weight behind a move to make EU anti-money laundering (AML) regulation directly applicable in member state law as it lashed member states for fumbling supervision of wayward banks.

The outgoing commission said on Wednesday that it was fed up with both poor national supervision and badly behaving banks, as it published a post-mortem of several scandals and put forward a slew of recommendations to bolster prevention of money laundering and sharper enforcement. 

Request a Free Trial

As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.

Take a Trial