The Challenges Facing Financial Supervision, Connected With The Combat Against Money Laundering At European Level

Emil Radev
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Emil Radev: University of Economics - Varna

An Annual Book of University of Economics - Varna, 2023, vol. 93, issue 1, 191-227

Abstract: This paper traces the development of legislation related to supervisory authorities at the European Union level and, in particular, their competences in the area of anti-money laundering and combating the nancing of terrorism. It examines the challenges posed to them by a series of scandals resulting from non-compliance with anti-money laundering measures. The cracks in supervision identied highlight the need for a new EuropeanAnti-Money LaunderingAuthority with clear powers to e򯿿ectively counter abuse and direct control in high-risk cases.

Keywords: money laundering; supervisory authorities; anti-money laundering measures (search for similar items in EconPapers)
JEL-codes: K20 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:yrbook:y:2023:i:1:p:191-227

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