Anti-Financial Crime & Financial Crime Compliance
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EU supervisor needs the power to take over where necessary; MEP issues warning after Commission’s latest sneak-peak of new EU AML systems

Sven Giegold (MdEP, Sprecher der Europagruppe Grüne, Brüssel) Foto: Stephan Röhl

By Dan Byrne for AMLi

European supervisory bodies need the ability to step in where they feel it is necessary if Europe’s new AML systems are to work, a leading MEP has said.

Sven Giegold (Greens, Germany) – member of the European Parliament’s Committee on Economic and Monetary Affairs, and frequent outspoken critic of European AML – has said that the supervisors should be free to act in a financial crime matter if they feel the relevant member state hasn’t tackled it properly.

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