Does Europe’s anti-money laundering framework need a regime change?
Proposal for a more efficient fight against money laundering.
Speakers
Joshua Kirschenbaum
Senior Fellow at the German Marshall Fund and Senior Vice President at the Bank of Hope,
Tobias Mackie
Administrator, Banking and Financial Conglomerates, European Commission DG FISMA,
Olaf Rachstein
Policy Advisor, Prevention of terrorism financing and money laundering, Federal Finance Ministry of Germany,
Raluca Pruna
Head of Unit - Financial Crimes, European Commission, DG FISMA
Video & AUDIO RECORDINGS
SUMMARY
A series of banking scandals in multiple EU countries has underlined the shortcomings of Europe's anti-money laundering regime. The impact of these shortcomings has been further underlined by changing geopolitics and by the new reality of European banking union. The imperative of establishing sound supervisory incentives to fight illicit finance effectively demands a stronger EU-level role in anti-money laundering supervision.
The event will discuss a new proposal sketched in a recent paper by Nicolas Veron and Joshua Kirschenbaum for a new European unitary architecture, centered on a new European anti-money laundering authority that would work on the basis of deep relationships with national authorities. You can also listen to one of the authors, Mr Nicolas Veron, expand on the proposal in a 'Deep Focus' episode of our podcast, The Sound of Economics.
EVENT MATERIALS
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