The Economic and Legal Effectiveness of the European Union’s Anti-Money Laundering Policy

The Economic and Legal Effectiveness of the European Union’s Anti-Money Laundering Policy

Brigitte Unger, Joras Ferwerda, Melissa van den Broek and Ioana Deleanu

Official government policies against money laundering in the EU have been in place for roughly 25 years, after much concerted effort and a great deal of time and money invested. This volume examines the anti-money laundering policy of the EU Member States in connection to the threat of money laundering they face.

Chapter 3: Harmonization of substantive norms in preventive AML policy

Melissa van den Broek

Subjects: economics and finance, economic crime and corruption, financial economics and regulation, money and banking, law - academic, corruption and economic crime, european law, finance and banking law


This chapter compares the way in which EU Member States have implemented the substantive provisions stemming from the Third EU Directive. It shows that the substantive norms under the preventive anti-money laundering policy have to a large extent become harmonized within the European Union, but that the way in which Member States have implemented these norms varies considerably. This divergence may affect the legal effectiveness of Member States' preventive anti-money laundering policies. This chapter also pays attention to the recent proposal for a fourth EU Directive.

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