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For AML Directive Proposal, Europe Still Has Questions to Answer
By Vanya Dragomanovich
printAs European Union leaders negotiate a final version of the bloc's latest anti-money laundering directive, questions remain on how its proponents will overcome legal and political hurdles to its implementation. In March, the European Parliament approved an amended version of the European Commission's proposed Fourth Anti-Money Laundering Directive, which if adopted would require member-states to maintain public registers naming beneficial owners of companies and trusts and ensure that nonbank entities, including casinos and attorneys, report suspicious transactions by their customers. The directive would also order financial institutions to more closely monitor domestic political figures, high-court judges and heads of state....
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