A Danske Bank sign is seen on a bank's headquarters in Copenhagen, Denmark, Oct. 22, 2019. The bank was involved in what is seen as the worst money-laundering scandal in Europe. (Reuters/Nikolaj Skydsgaard/File Photo)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
The European Union's largest states are pushing for the establishment of a new supervisory authority that would take over from states the oversight of money laundering at financial firms, after a series of scandals at the bloc's banks.The need for an EU supervisor emerged after repeated failures by national watchdogs at spotting and countering money laundering, the statement said.Existing rules should be merged into a single piece of legislation directly applicable in EU states, the statement said, reversing the existing system that allows countries to adapt EU money-laundering rules to national prerogatives.The move comes after EU finance ministers discussed a reform of money-laundering rules at a meeting last month and before another gathering in December when a common EU stance is expected to be adopted on the matter.
FOLLOW THIS ARTICLE