EU looking and old AML cases for lessons to learn

The European Commission is now reportedly reviewing previous cases such as Société General and Deutsche Bank.

As part of the plan, the Commission is reviewing cases between 2012 and 2018 in order to better understand what went wrong with the measures in place to prevent money laundering.

It is not clear if the review is being conducted at the institutions themselves or if this has been coordinated at supervision level.

The reported information noted that the EU has no power to impose penalties on banks in regards to AML shortcomings.



Jaime Prieto

Mr. Jaime Prieto is a lawyer experienced in Financial Crime, Anti-Money Laundering and Counter Terrorism Financing having extensive professional experience in both public and private sectors. Mr. Prieto has been a Head of Compliance in the European Union, the Americas and the Caribbean for banks, trust companies, asset managers, Big Four audit and advisory firms, RegTechs, government agencies and other types of financial professionals. In addition to his experience, he has been legal and educational chair in several compliance and sectorial organisations and performed as a teacher and speaker for a number of organisations and in several local and international forums. Furthermore, Mr. Prieto is an experienced Money Laundering Reporting Officer anda Data Protection officer with additional experience in risk management.
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