Anti-money laundering: the latest assessment of money laundering and terrorist financing risks across the Single Market is now available
The Commission has adopted the Supranational Risk Assessment (SNRA) Report, a tool to help Member States identify and address money laundering and terrorist financing risks. The report shows that while most recommendations of the previous assessments (the last such report dates from 2019) have already been implemented, it underlines the fact that weaknesses in identifying beneficial ownership continue to remain a considerable threat to the financial system, as anonymity remains a critical vulnerability for all sectors and activities. The report also re-calculates the risk levels of certain areas where changes have been detected since 2019, e.g. crypto-assets and online gambling, where risks are now higher. The Commission remains committed to protecting EU citizens and the financial system from money laundering and terrorist financing. The recent anti-money rules (AML) rules proposed in the 2021 legislative package, aim at improving the detection of suspicious transactions and activities, and close loopholes used by criminals to launder illicit proceeds or finance terrorist activities through the financial system. Today’s report recognises the importance of this package, which is currently being discussed by the European Parliament and the Council. The full report is available here.
