Past Event

Does Europe’s anti-money laundering framework need a regime change?

Proposal for a more efficient fight against money laundering.

Date: November 15, 2018, 1:00 pm Topic: Finance & Financial Regulation

Video & AUDIO RECORDINGS


SUMMARY

A series of banking scandals in multiple EU countries has underlined the shortcomings of Europe’s anti-money laundering regime. The impact of these shortcomings has been further underlined by changing geopolitics and by the new reality of European banking union. The imperative of establishing sound supervisory incentives to fight illicit finance effectively demands a stronger EU-level role in anti-money laundering supervision.

The event will discuss a new proposal sketched in a recent paper by Nicolas Veron and Joshua Kirschenbaum for a new European unitary architecture, centered on a new European anti-money laundering authority that would work on the basis of deep relationships with national authorities. You can also listen to one of the authors, Mr Nicolas Veron, expand on the proposal in a ‘Deep Focus’ episode of our podcast, The Sound of Economics.

EVENT MATERIALS

Presentation by Joshua Kirschenbaum Nicolas-Veron

Schedule

Nov 15, 2018

13:00-13:30

Check-in and lunch

13:30-13:45

Presentation

Joshua Kirschenbaum, Senior Fellow at the German Marshall Fund and a former US Treasury official at the Financial Crimes Enforcement Network (FinCEN)

13:45-14:30

Panel discussion

Chair: Nicolas Véron, Senior Fellow

Raluca Alexandra Pruna, Head of Unit, European Commission DG JUST

Joshua Kirschenbaum, Senior Fellow at the German Marshall Fund and a former US Treasury official at the Financial Crimes Enforcement Network (FinCEN)

Tobias Mackie, Administrator, Banking and Financial Conglomerates, European Commission DG FISMA

Olaf Rachstein, Policy Advisor, Prevention of terrorism financing and money laundering, Federal Finance Ministry of Germany

14:30-15:00

Q&A

15:00

End

Speakers

Raluca Alexandra Pruna

Head of Unit, European Commission DG JUST

Joshua Kirschenbaum

Senior Fellow at the German Marshall Fund and a former US Treasury official at the Financial Crimes Enforcement Network (FinCEN)

Tobias Mackie

Administrator, Banking and Financial Conglomerates, European Commission DG FISMA

Olaf Rachstein

Policy Advisor, Prevention of terrorism financing and money laundering, Federal Finance Ministry of Germany

Nicolas Véron

Senior Fellow

Location & Contact

Bruegel, Rue de la Charité 33, 1210 Brussels

Katja Knezevic

katja.knezevic@bruegel.org

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Policy Contribution

A better European Union architecture to fight money laundering

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