Reassessing the Risk Based Anti-Money Laundering Strategy

Issue & Policy Briefs November 16, 2012, No. 106

The adoption of the risk-based money laundering detection system across Europe has given increased investigative responsibility to banks. For countries where banks are often collaborators in the money laundering schemes, the criminals are in effect investigating themselves. Governments in these countries must reassess their risk-based strategies, and with the help of the EU, increase the means of regulation to stem the flow of billions of illicit Euros.