What’s happening in Europe?

It might be assumed that the fast moving world of money laundering would be matched by equally speedy responses by law-makers, but think again when considering the framing of European law says Keith Nuthall.

When it comes to the reform of the EU’s money laundering directive, (Council Directive 91/308/EEC on prevention of the use of the financial system for the purpose of money laundering), deliberation is the order of the day. The update was proposed back in summer 1999 and it is still being chewed over by Brussels’ legislative sausage machine.