EU to Create Anti-Money Laundering, Anti-Terror Financing Body
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The European Union is taking steps to create a new authority aimed at countering money laundering and terrorism financing, following a provisional agreement between the Council and the bloc’s Parliament.
The AMLA — or Anti-Money Laundering Authority — will work closely with national bodies to ensure compliance with anti-money laundering and terror financing-related obligations within the financial sector, the European Council said in a statement on Wednesday.