October 29, 2018 / 5:29 PM / 20 days ago

EU draft plan on money laundering urges ECB review of recent bank scandals

BRUSSELS, Oct 29 (Reuters) - European Union states are discussing an action plan to counter money laundering at banks that would involve clearer powers for supervisors and a review of a series of recent high-profile cases, a draft document seen by Reuters showed.

The paper which is subject to changes until its adoption in early December, mandates the European Central Bank and the European Commission to conduct a review of alleged money laundering cases at EU banks by mid-2019 with the view of “possible additional actions” to strengthen the EU legal framework.

Reporting by Francesco Guarascio; editing by David Evans

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