Great expectations - EU AML

Cross-border supervision of the banks highest rated for ML riskoperating in the European Union, closer coordination of national financial intelligence units and tightened rules through a regulation, alongside a new AML directive - the major overhaul of EU machinery to combat illicit finance is set to become law: so, will it make a substantive difference, reduce money laundering? Sara Lewis, in Brussels, tests opinion.

Cross-border supervision of the banks highest rated for ML riskoperating in the European Union, closer coordination of national financial intelligence units and tightened rules through a regulation, alongside a new AML directive - the major overhaul of EU machinery to combat illicit finance is set to become law: so, will it make a substantive difference, reduce money laundering? Sara Lewis, in Brussels, tests opinion.