Stepping up the fight against money laundering

Published 24.07.2019

Given today’s adoption by the European Commission of a Communication and four reports designed to support European and national authorities in better addressing money laundering and terrorist financing risks, the European Banking Federation reiterated the following:

The European banking sector is fully committed in the fight against money-laundering and financial crime. For this fight to be effective we need to reduce fragmentation between national approaches while increasing cross-border cooperation in- and outside the European Union.

The recent AML problems also constitute an opportunity to try to really improve the efficiency of the system through better cooperation, including information sharing, between the public and private sectors with the purpose of arresting more criminals.

The EBF is currently discussing possible improvement with relevant stakeholders, including the European Commission and Europol.

More information

Communication by the European Commission – Better implementation of the EU’s anti-money laundering and counter terrorist framework

European Commission – Fact Sheet – Commission assesses risks and implementation shortcomings in fight against money laundering and terrorist financing: Questions and Answers

AML & CTF leaflet – ABBL’s Core Pillars

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