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 4 days ago
 Source: talk-business.co.uk

European Commission’s proposal shines light on European money laundering

Quick Summary

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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