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Europe Daily Bulletin No. 12766

21 July 2021
ECONOMY - FINANCE - BUSINESS / Money laundering
European Commission proposes creation of a new EU ‘anti-money laundering’ agency in 2023
Brussels, 20/07/2021 (Agence Europe)

As expected, the European Commission proposed on Tuesday 20 July the creation of a new European authority dedicated to the fight against money laundering (‘EU AML authority’ or AMLA) (see EUROPE B12757A14).

Money laundering remains a serious problem in the EU, and after a series of scandals hitting European banks in 2019, the European Commission has decided to hit back hard. 

Experts estimate that around 1% of the EU’s annual GDP is linked to suspect financial activity. While the...

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