The time is ripe for the EU to tackle money laundering
It’s estimated that 2-5 per cent of global economic output is laundered annually, with an overall recovery rate of illicit assets at just 1.1 per cent in Europe. Tackling money laundering is a longstanding priority, but one pursued so far with limited success. In the meantime, crime proliferates and citizens see that the rule of law does not work. The European Commission is to announce an anti-money laundering plan this month, but a new approach is needed.
Over the past two decades, AML targets have broadened a lot. They now include not only crime and drug trafficking-related proceeds but tax avoidance, terrorist financing, human trafficking and state-sponsored and corporate bribery.… Seguir leyendo »