- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Neil Hodge2020-05-13T17:49:00
The European Commission’s new six-point plan highlights what measures the agency will take to enforce, supervise, and coordinate EU rules on combating money laundering and terrorist financing.
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The European Commission unveiled new plans to set up an agency specifically aimed at tackling the region’s spiraling problems with money laundering.
Europol has created the new European Financial and Economic Crime Center, with the aim of enhancing operational support to EU member states and EU bodies in the fields of financial and economic crime.
Financial crime expert Martin Woods reviews the “cum-ex” scandal and how a recent action plan from the European Banking Authority aims to help stop such schemes from burgeoning.
The U.K. has an ongoing problem with money laundering, but recent changes to economic crime law and corporate registration requirements could bring more cases to court, according to consultancy KPMG.
Enforcement actions in the first half of of 2024 by the Treasury Department’s Financial Crimes Enforcement Network highlight the importance of proactive measures in Bank Secrecy Act compliance rather than just being compliant.
The U.K Financial Conduct Authority published findings showing that financial services firms are implementing its guidance on politically exposed persons related to anti-money laundering inconsistently, with experts warning firms of reputational damage arising from potential enforcement.
