In an attempt to improve the integrity, stability and sustainability of the European financial markets, legislators are storming ahead with regular revisions of the European Union’s (EU) anti-money laundering (AML) and criminal law framework. In 2018, a record number of actions were undertaken by the European Commission (EC). Besides the new topics—which have arisen as a result of innovation in the financial services sector—a number of scandals, public outcry and large-scale money laundering investigations have been the drivers for the increased speed of action to improve safeguards necessary to protect the overall stability of the EU and that of the financial sector.
Jennifer Hanley-Giersch, Managing Partner at Berlin Risk Advisors GmbH and ALL AML GmbH as well as founding member and Board member of the ACAMS chapter in Germany shed a light on the topic on ACAMS Today.
Read and download the full article by clicking on: “Status of the European AML framework”.