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Following the Communication by the European Commission today on an Action Plan for a comprehensive Union policy on preventing money laundering and terrorist financing, Richard Middleton, Head of Policy, at AFME, said:
“AFME believes that a comprehensive, harmonised and robust anti-money laundering and counter terrorist financing framework is indispensable in the fight against financial crime in the EU.
“The most effective way to prevent financial crime in Europe is better cooperation and information sharing between financial institutions, supervisory authorities and law enforcement, both within and across Member States. In short, Europe needs to develop a public-private ecosystem to prevent financial crime.”
AFME has also published a discussion paper with more detail entitled “Enhancements of the EU’s legal framework to strengthen the fight against money laundering and terrorism financing”