European Commission’s proposal shines light on European money laundering
Last month, the European Commission proposed a new set of guidelines to fight money laundering in Europe, including the creation of a new authority to police financial crime.
The Commission sent an action plan to each of the European Union’s 27 governments and called on a unified front against money laundering.
Recent court cases have revealed the dire need for greater oversight of European money laundering.
Among the cases receiving the most buzz is a $4.2 billion lawsuit brought by the leading Swedish financial broker Victor Carlström.
It alleges that Swedbank, Swedish insurance company Folksam and Swedish government authorities conspired in a $150 billion money laundering scheme.
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