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 –
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