CEPS has launched a task force on how to achieve progress in the combat against money laundering at EU level. Notwithstanding years of actions, tackling money laundering effectively remains a big challenge. Several high-profile cases in recent years indicate that we have not come closer to a solution. Some consider it is simply a question of reforming the EU AML supervisory architecture, but the answer is much more complex and nuanced than that. AML deterrence in the EU requires better governance, but improving the structure of European authorities alone will not keep organised crime and other members of the dark economy awake at night unless it is allied to action, commitment and improvements in capability.
Hence this task force focuses on three distinct areas: effective governance, sound risk management, and changing capabilities. It is a discussion forum for key international experts, stakeholders from EU and national institutions, practitioners and private sector representatives with the aim to contribute to an effective and efficient AML framework and to make policy recommendations on the subject.
This report sets out the following key recommendations for a new approach to the fight against money laundering.
Chair: Eero Heinäluoma, Member of the European Parliament, ECON Committee, and former Minister of Finance and former Deputy Prime Minister of Finland
Rapporteur: Karel Lannoo, CEO, CEPS
Co-Rapporteur: Richard Parlour, Principal, Financial Markets Law International
1st meeting: 23 January 2020 – Agenda
- Challenges and policy actions undertaken at EU level
- Industry experiences
2nd meeting: 20 May 2020- Agenda
- The European Commission’s AML Action Plan Consultation
- AML vs GDPR
- The use of AI in combatting money laundering
- LEI as a tool in combatting money laundering
- How can public-private partnership be fostered to tackle money laundering?
3rd meeting: 23 June 2020- Agenda
- Recent Parliamentary activities on tax and AML
- Digitalisation and new forms of payments and AML
- Eurasia Union and AML
- Effectiveness Measures on AML
- EBA implementation of the new rules of the ESA regulation.
4rd meeting: 29 September 2020
- Draft Report discussion
For further questions, please do not hesitate to contact Richard Parlour by email at: email@example.com.