Stepping up the fight against money laundering

Stepping up the fight against money laundering

BRUSSELS, 24 July 2019 – Given today’s adoption by the European Commission of a Communication and four reports designed to support European and national authorities in better addressing money laundering and terrorist financing risks, the European Banking Federation reiterated the following:

The European banking sector is fully committed in the fight against money-laundering and financial crime. For this fight to be effective we need to reduce fragmentation between national approaches while increasing cross-border cooperation in-and-outside the European Union.

The recent AML problems also constitute an opportunity to try to really improve the efficiency of the system through better cooperation, including information sharing, between the public and private sectors with the purpose of arresting more criminals. The EBF is currently discussing possible improvement with relevant stakeholders, including the European Commission and Europol.

Communication by the European Commission – Better implementation of the EU’s anti-money laundering and counter terrorist framework

For background: Europol European Banking Authority

Media contact:

Raymond Frenken, Head of Communications, +32 474 98 13 32, r.frenken@ebf.eu

About the EBF:

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from 45 countries. 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. Website: www.ebf.eu Twitter: @EBFeu.