26 March 2002

FBE report on Money Laundering: Who does What?

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The European Banking Federation (FBE) published an updated version of its “Report on Money Laundering Legislation”, based on information collected from September to December 2001 in the national banking associations.

The document offers an inventory of national regulations on money laundering in more than 35 countries in Europe and beyond. Detailed national legal measures are listed with identical headings, introducing valuable elements of comparison between countries.

This Report represents:

a unique and exhaustive worldwide inventory of national legislations on money laundering;

a reference document within the European Union after the adoption of the second directive of 4 December 2001 on the prevention of the use of the financial system for the purpose of money laundering;

a complete introduction to the regulations adopted by the candidate countries, where the issue of money laundering is still the subject of debate and where stricter regulations have sometimes been adopted;

a clear description of the new US regime after the adoption of the USA Patriot Act of 26 October 2001;

a valuable comparative study on the question of identification at a distance in the context of e-banking, as more than ten national regulations are detailed and compared;

a valuable contribution of the banking sector in the debate of money laundering, at the forefront of preoccupations since the 11 September 2001 events.

See full FBE report

© FBE