On 24th July, the EU announced a Communication and four reports that will support European and national authorities in better addressing money laundering and terrorist financing risks.

  • The Communication is concerned with a better implementation of the EU’s AML/CFT framework;
  • One report contains an assessment of recent alleged money laundering cases involving EU credit institutions – this analysis 10 recent publicly known cases of money laundering in EU banks to provide an analysis of some of the current shortcomings and outline a possible way forward.;
  • Another report comprises a Supranational Risk Assessment report;
  • A third report is concerned with FIU in Europe, and the need for better co-operation, with information-sharing which is insufficient and too slow. It is also concerned with co-operation with third countries; and
  • The final report is concerned with the interconnection of central bank account registries, to allow easy checks to be carried out EU-wide.

Included in the material is a watch list including free ports, “Golden Passport” visa and CBI schemes promoted by some EU countries, professional football and private ATM machines, and which totals 47 goods and services.

A Q&A fact sheet on the documents is available at –

The individual documents are available at –


This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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