EBF Contributes to Critical Resource to Enhance Cooperation Between Financial Institutions and Law Enforcement
Brussels, 30 January 2025 – The Europol Financial Intelligence Public Private Partnership (EFIPPP) has developed a “Practical Guide for Operational Cooperation between Investigative Authorities and Financial Institutions” to facilitate the criminal law investigative authorities in contributing to operational public-private partnerships (PPPs) in the EU.
The Guide is designed to empower criminal law authorities across the EU to engage more effectively in PPPs and lays the groundwork for transformative cooperation in the fight against financial crime.
It builds on foundational work, such as the 2022 staff working paper produced by DG FISMA, representing the preeminent resource for EU criminal law authorities to assess anti-money laundering (AML) / countering the financing of terrorism (CFT) PPPs, particularly in terms of how they can play a role in contributing to – or establishing – these cooperative mechanisms. Of particular relevance is the fact that the Guide is formulated to account for the nuanced approach required in civil code jurisdictions for these matters. It builds on EFIPPP’s own experience as a successful PPP, as well as other existing cooperative mechanisms. EFIPPP’s mix of expertise, in which the EBF is heavily involved, allows it to provide useful insights in the Guide that can be addressed to policymakers, investigative authorities, as well as private stakeholders, outlining suggestions on how best to enhance operational cooperation both from a legal and practical perspective.
The European Banking Federation (EBF) was involved in the editorial team behind the Guide, along with the Royal United Services Institute (RUSI) Future of Financial Intelligence Sharing (FFIS) programme, and Deloitte. The Guide is accompanied by a “Technical Annex: European Survey of Operational Public-Private Cooperation to Tackle Financial Crime in 2024”, which provides extensive insights into existing PPPs, standing as one of the most comprehensive surveys on operational PPPs in the field of financial crime to date.
With the support for the Guide from both DG FISMA and DG HOME, as well as the substantial opportunity created by the Anti-Money Laundering Regulation (AMLR) Article 75, there is a clear impetus moving towards encouraging AML/CFT cooperation mechanisms/PPPs becoming the “new normal” across the EU.
This collaborative effort, led by Dr. Benjamin Vogel (Max Planck Institute), alongside contributors from RUSI, Deloitte, and the EBF, signals a turning point in Europe’s approach to combating financial crime.
The EBF hopes that this document marks a new stage in the fight against financial crime. Now is the time for policymakers and industry practitioners to step forward to help build and strengthen PPPs across Member States. The Guide takes a positive step in putting partnerships at the forefront of Europe’s fight against financial crime.
Wim Mijs, CEO, commented: “The EBF is a proud partner of the leading cross-border community fostered by EFIPPP in the fight against financial crime. The insights shared in today’s Practical Guide highlight the power of trust and collaboration when working with European authorities. This guide offers valuable insights for building impactful operational public-private partnerships and driving meaningful action against financial crime.“
For more information:
Roger Kaiser, Head of Tax and Compliance, r.kaiser@ebf.eu
About the EBF:
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.