Policy News

BAFT Response to EC Public Consultation on AML Action Plan

On August 27, BAFT responded to the European Commission’s Action Plan for a comprehensive Union policy on preventing money laundering and terrorism financing.

BAFT supports greater coordination and a more effective framework to prevent money laundering and terrorist financing across Europe. In drafting the response to the consultation, BAFT surveyed members in Europe to assess their views on the European Commission’s AML Action Plan which includes six pillars:

  • Effective implementation of existing rules
  • A single EU rulebook
  • EU-level supervision
  • A support and cooperation mechanism for financial intelligence units
  • Better use of information to enforce criminal law
  • A stronger EU in the world

To view the comment letter, visit our Library of Documents under the Comment Letters section or download the pdf here.