The supervisory approach to anti-money laundering: an analysis of the Joint Working Group’s reflection paper
On August 31 2018, a Joint Working Group consisting of representatives of the European Central Bank, the European Commission and the European Supervisory Agencies published a document entitled ‘Reflection paper on possible elements of a Roadmap for seamless cooperation between Anti Money Laundering and Prudential Supervisors in the European Union’. The reflection paper straightforwardly calls for additional resources to be made available to the European Banking Authority to counter money laundering. Suggestions for better cooperation and information sharing among anti-money laundering and prudential supervisors, however, risk being ineffective, as long as the underlying incentives to engage in international regulatory competition towards low enforcement of anti-money laundering standards are not addressed. To eliminate the potential for regulatory competition, anti-money laundering supervision needs to be raised to a European level.
Analisi approfondita
Autore esterno
H.Huizinga
Informazioni sul documento
Tipo di pubblicazione
Settore di intervento
Parole chiave
- DIRITTO
- diritto penale
- economia monetaria
- FINANZE
- frode fiscale
- GEOGRAFIA
- geografia economica
- informazione ed elaborazione dell'informazione
- istituti finanziari e di credito
- ISTRUZIONE E COMUNICAZIONE
- libera circolazione dei capitali
- lotta contro la criminalità
- moneta elettronica
- politica commerciale
- QUESTIONI SOCIALI
- reato economico
- riciclaggio di denaro
- SCAMBI ECONOMICI E COMMERCIALI
- scambio d'informazioni
- sistema bancario
- Stato membro UE
- transazione finanziaria
- vigilanza del mercato
- vita sociale