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Dutch Officials Pitch Plans For EU-Wide AML Agency

By Koos Couvée

The push for a centralized authority to enforce anti-money laundering rules across the European Union has gained momentum after the Netherlands became the first member state to lay out in detail how the body could work in practice. Dutch officials concluded in a discussion paper circulated Monday that creating a European anti-money laundering superagency would remove legal and practical bottlenecks that hinder international cooperation and information sharing among national regulators, and ensure a "level playing field" across the bloc. "By pooling supervisory capacity, economies of scale can also be achieved, such as greater accumulation of knowledge and expertise," officials wrote....

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