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 Full text 
Wednesday, 18 September 2019 - Strasbourg Revised edition

State of implementation of anti-money laundering legislation (debate)

  Niels Fuglsang (S&D). – Madam President, in the years 2007 to 2015 the Danish bank, Danske Bank, had a department in Estonia that worked as a money-laundering central with suspicious transactions for up to EUR 200 billion. The Estonian authorities warned the Danish authorities several times but the Danish authorities did nothing. As was mentioned in April, however, the European Banking Authority came with a report saying that there was no breach in Union law and that the Danish authorities had done nothing wrong.

For me, this shows that there’s something wrong, completely wrong, with the system and that we need to change. The main problem seems to be that the national authorities, which the European Banking Authority scrutinises, sit on the very board that can accept or reject the report that is critical of the Member States. It is an obvious conflict of interest. I think something should be done, and I hope the Commissioner agrees and I would like to know what the Commission proposes and how to reform the governance of the European Banking Authority.

Last updated: 8 November 2019Legal notice