Halister News

(Bloomberg) -- The European Union’s top regulators issue a joint report on the risks of money laundering and terrorist financing to the bloc’s financial sector.

• “Problems exist in key areas such as firms’ understanding of the ML/TF risk to which they are exposed and the effective implementation, by firms, of customer due diligence policies and procedures,” the regulators say.
• The report also “points to difficulties associated with the lack of timely access to intelligence that might help identify and prevent terrorist financing, and considerable differences in the way competent authorities discharge their functions.”
• Link: http://tinyurl.com/h8bnq7r