The number of EU banks that have been involved in significant money laundering cases prompted a particular effort to strengthen the EU AML framework. The session is therefore dedicated to take stock on what has been achieved regarding the regulatory framework and its implementation, notably in the context of the Covid 19 pandemic, and the accelerated development of cross border transactions due to digitalisation, which further weaken the financial sector. The actual role and contribution of technology on the area of AML will be touched upon as will be the recent the creation of a new EU authority expected to transform AML/CFT supervision in the EU and enhance cooperation among financial intelligence units.
Points of discussion
- What are the main trends observed regarding AML and related regulation globally and in the EU?
- What can EU and national authorities and financial institutions, expect from technology to improve their AML performance?
- What is the expected role of the forthcoming EU AML Authority?