The EPP Group in the European Parliament wants the new European Anti-Money Laundering Authority to have more power over its national counterparts. “It will be key that the new Anti-Money Laundering Authority will actually be in charge of all relevant institutions and will be truly independent from its national counterparts. The biggest risk is that we are adding just one additional layer of complexity and creating a new conflict of competences. To avoid that, it must be crystal clear that the new Authority firmly calls the shots for high-risk entities”, according to Markus Ferber MEP, EPP Group Spokesman in Parliament’s Committee on Economic and Monetary Affairs.
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