Peters & Peters

Partner Anna Bradshaw speaks to about the Commission’s criticisms of AML controls in six EU Member States

The Commission of the European Union has publicly criticised six member states for weaknesses in their anti-money laundering regimes. Partner Anna Bradshaw says, “ The inclusion of AML-related, country-specific recommendations in an economic and social policy review demonstrates a knowledge among EU officials that the bloc’s preventative AML structures are only as strong as their weakest link.” She adds, “EU nations cannot be included on the bloc’s recently enacted blacklist of nations that pose a high-risk of money laundering, but the review published Wednesday may have the same effect. At the very least, the regulated community will read the recommendations carefully and more likely than not take the view that they would have to factor them into their risk assessments.”  Read more