Tackling dirty money: A closer look at AML supervision in the EU

It is estimated that 2-5% of global GDP is laundered annually, with an overall recovery rate of illicit assets at just 1.1% in Europe, according to Europol. Tackling money laundering is a longstanding policy priority, but one pursued with limited success. 

As part of the proposals to tighten control of money laundering, the EU Commission is proposing a single agency (AMLA) to have a single system in AML supervision in the EU, and to directly supervise the riskiest institutions. The national banking account systems will be interlinked, which should also facilitate the work of the financial intelligence units (FIUs). Rules will also be fully applicable to crypto-payments.  

CEPS and ECRI are organising a closed-door webinar to gather some initial reactions to the new proposals.

For CEPS and ECRI members and members of the AML task force only.

SPEAKERS

• Eero Heinäluoma, MEP, European Parliament
• Raluca Prună, Head of the Financial Crime Unit, DG FISMA, European Commission

Moderated by Karel Lannoo, CEO, CEPS