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The Danske Bank affair, which emerged in 2018, was the largest in EU history (Photo: Jorge Láscar)

EU to create anti-money laundering agency

The EU is planning to create a new anti-money laundering watchdog in the wake of several bank scandals before the pandemic.

The Anti-Money Laundering Authority (AMLA), a new EU agency, will be the "centrepiece" of an updated regulatory system involving also national authorities, the European Commission said in a draft proposal, seen by the Reuters news agency.

"Money laundering, terrorist financing, and organised crime remain significant problems which should be addressed at Uni...

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

The Danske Bank affair, which emerged in 2018, was the largest in EU history (Photo: Jorge Láscar)

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Author Bio

Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.

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