EU Needs Stiffer AML Rules After Danske, Lawmakers Say
Law360, London (February 7, 2019, 5:47 PM GMT) -- European Union lawmakers investigating the alleged funneling of €200 billion ($227 billion) in suspicious transactions through Danske Bank's Estonian branch called for more stringent money laundering rules Thursday to be applied across the bloc.
Members of the European Parliament's Special Committee on Financial Crimes, Tax Evasion and Tax Avoidance said that anti-money laundering legislation needs to be tightened as it is failing to prevent dirty money flowing between member states.
"As Danske Bank and the authorities have failed to live up to their responsibilities, we need to fully assess whether European and national legislation on money laundering failed to be properly...
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