The financial disruptions and severe recession following the crisis hit both sides of the Atlantic, and at the same time triggered negative spillovers to EMEs, many of which were mere innocent by-standers.
We set out an objective to be not merely a watchdog but also a partner to the financial sector, actively facilitating the provision of financial products and services. However, this does not mean that we have somehow relaxed our focus on risk prevention and mitigation. On the contrary, we have substantially boosted human resources devoted to AML issues, establishing a dedicated unit.