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Compliance News, EU/Europe

PARLIAMENT DEBATE: Europe must bring in tougher regulations to find and recover illicit funds, says leading MEP

By Vish Gain for AMLi

A LEADING MEP has criticised Europe for not having robust enough systems to find and recover illicit assets.

“If you look at how much money is detected on an annual basis, it would indicate that our systems are not robust enough,” said Billy Kelleher.

“We can’t have national competency overseeing some parts, the EU over other parts’” the MEP warned.

“If ever there was a reason, the Danske Bank scandal made it clear that it was a core problem.”

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