Partner Anna Bradshaw is quoted in ACAMS moneylaundering.com article on AML cooperation and prudential supervision
Thursday 17 May, 2018
Commenting on a letter from the European Commission to the European Supervisory authorities calling for ‘collective reflection’ on how to improve AML cooperation and prudential supervision, Anna observes that increased AML supervision at the EU level could see banks lose their licenses before national regulators take action. “While it is too early to predict what proposals might emerge from the discussions, [there is a] repeated reference [in the recent letter] to the nuclear option of stripping banks of their licenses,” Anna tells ACAMS. “I suspect the response to AML failures may take on more of a political dimension if they’re dealt with higher up the food chain.” Read more.