European Union’s AML regime is reaching its limits, EBA director says
Haben raises concerns over ‘passported’ individuals and firms
The European Union’s anti-money laundering and countering terrorist financing laws are not adequate for their task, the head of oversight at the European Banking Authority warned.
“We believe we are now approaching the limits of the EBA’s powers and resources, and the limits of what is possible under the current legal framework,” EBA director Piers Haben told members of the European Parliament on April 26.
Haben’s criticism of Europe’s anti-money laundering regime came only a few days after
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