* * *  Introduction A number of high-profile cases of the alleged systematic use of banks for money laundering have been reported over the last two years, along with reports of investigations and other follow-up measures being taken by national authorities.
This has put anti-money laundering (AML) and combating the financing of terrorism (CFT) high on the agenda of policymakers at both the European and global levels. The European Commission, EU legislators and other authorities all rightly agree that misuse of the financial system cannot be tolerated. They have started to strengthen the EU’s AML/CFT framework, and further changes are in the pipeline.