M. P. Burić: “We need to double down the control mechanisms."

Once implemented, control mechanisms are often put on autopilot, even those requiring the human touch. Just going through check-boxes leaves a lot of room for error and that can be extremely costly.

In an address to MONEYVAL, the Council of Europe’s Secretary Marija Pejčinović Burić warned against relaxing anti-money laundering controls, adding that we need to “double down” on existing standards. Speaking about the current Covid-19 pandemic, she warned that criminals must not be allowed to take advantage of the current crisis as it would “only make the economic situation worse” but it would also “outrage citizens” and further “strain our social fabric”.

Read more at https://amlintelligence.com/2020/09/council-of-europe-secretary-warns-against-relaxing-aml-regulations/