The European Commission is set to publish a new action plan to combat money laundering on 25 March. The action plan is to be followed by long overdue legislative proposals. Today, at a joint event in the European Parliament, together with Wim Mijs, Chief Executive Officer of the European Banking Federation (EBF) and Sebastian Fiedler, Chair of the Federation of German Police Officers (BDK), I presented proposals for the priorities the EU Commission should set in the area of financial crime. As spokesperson for the Greens in the Committee on Economic and Monetary Affairs, I took the opportunity to present an action plan with 10 proposals (see below).
Representatives of banks, police and us Greens agreed on the top priority: The Commission must enforce compliance with European anti-money laundering standards in the Member States through infringement proceedings. The representatives of obliged entities under the EU’s Anti-money Laundering Directive attending the breakfast also supported my call on the Commission to come up with strong proposals to harmonise key rules. Companies doing cross-border business would benefit from uniform standards, in particular for customer identification, and regulatory arbitrage would be prevented. Here, the EU would provide real added value.
A recording of the event can be found here: https://youtu.be/lezrjfD_zPs.
You can download the presentations by EBF, BDK and me below.
My 10 proposals for an action plan to combat financial crime: https://sven-giegold.de/wp-content/uploads/2020/02/Sven-Giegold-10-Key-Proposals-AML.pdf
Presentation by Wim Mijs, EBF: https://sven-giegold.de/wp-content/uploads/2020/02/Wim-Mijs-AML-presentation-at-the-EP-19-Feb.pptx
Presentation by Sebastian Fiedler, BDK: https://sven-giegold.de/wp-content/uploads/2020/02/Sebastian-Fiedler-Geldw%C3%A4schefr%C3%BChst%C3%BCck.pptx
With European green greetings,