30 Oct 2018
A European Union plan to counter money laundering at banks urges a review of a series of recent high-profile cases but defers a comprehensive reform, a draft document seen by Reuters showed.
The plan is a response to alleged money-laundering scandals involving banks in Denmark, Estonia, Latvia, Luxembourg, Malta, Spain, the Netherlands, Britain and Cyprus, with schemes often executed through foreign branches inside the EU.
The preliminary document, dated Oct. 29, which is subject to changes until its adoption in early December, mandates the European Central Bank (ECB) and the European Commission to review alleged money-laundering cases by mid-2019 with a view to “possible additional actions” to bolster the EU legal framework.
– By Francesco Guarascio, Reuters, 29 October 20118.
Link to Reuters.
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