For the past three decades, the EU and other advanced economies have sought to combat money laundering and terrorist financing through increasingly stringent rules and scrutiny requirements for financial transactions.
Yet repeated scandals, resulting in massive fines imposed on international banks by the US, the Netherlands, and other national jurisdictions, have raised recurrent questions about how far the current anti-money laundering and counter-terrorist financing (AML/CFT) regime is fit for purpose. In response to these challenges, the European Commission has recently proposed an ambitious package of anti-money laundering and counter-terrorist financing measures.
At its heart is a new European Anti-Money Laundering Authority (AMLA), responsible for directly overseeing the riskiest cross-border financial businesses, as well as coordinating national AML/CFT supervisors and Financial Intelligence Units. In this webinar, three prominent experts will assess the strengths and weaknesses of the Commission’s proposals, together with their broader implications for EU financial governance.
Marieke de Goede is Professor of Politics at the University of Amsterdam. She currently holds a Consolidator Grant of the European Research Council (ERC) entitled “FOLLOW: Following the Money from Transaction to Trial” (www.projectfollow.org). She has published widely on counter-terrorism and security practices in Europe, with a specific attention to the role of financial data. She regularly engages in policy dialogue, and her 2018 WODC report on terrorism financing (with Mara Wesseling) sheds a critical light on the effectiveness and effects of counter-terrorism financing. She is author of Speculative Security (University of Minnesota Press, 2012) and co-editor of Secrecy and Methods in Security Research (Routledge, 2020). De Goede is Academic Director of the Amsterdam Institute of Social Science Research (AISSR).
Karel Lannoo is Chief Executive of the Centre for European Policy Studies (CEPS), one of the leading independent European think tanks, with a strong reputation in policy research. He specialises in financial regulation, economic governance and single market issues and his recent publications cover EU healthcare policy, anti-money laundering and crypto-currency regulation. He speaks regularly at hearings of EU, national and international institutions; participates in studies for national, multilateral and private sector organisations; writes op-eds and appears in frequently in the media (FT, WSJ, Le Monde, Bloomberg, NRC, Financieel Dagblad, De Tijd, etc.). He is also a member of various company and foundation boards, and advisory councils.
Nicolas Véron cofounded Bruegel in Brussels in 2002-05, joined the Peterson Institute for International Economics in Washington DC in 2009, and is currently employed by both organizations as a Senior Fellow. His research deals primarily with financial systems and financial services policies, with a main geographical focus on Europe. A graduate of France’s Ecole Polytechnique and Ecole des Mines, he held senior positions in the French government and private sector in the 1990s and early 2000s. In September 2012, Bloomberg Markets included Véron in its yearly global “50 Most Influential” list with reference to his early advocacy of European banking union.
Jonathan Zeitlin (moderator) is Distinguished Faculty Professor of Public Policy and Governance at the University of Amsterdam and Academic Director of the Amsterdam Center for European Studies (ACES). His research focuses on new forms of experimentalist governance within and beyond the European Union, with particular emphasis on market regulation, environmental sustainability, and social welfare. He has recently published a study of the Single Supervisory Mechanism for European Banking Union.