European governments need to step up their efforts to combat money laundering and terrorist financing because their current capabilities are below par, according to a report by Europe’s main human rights body.
They also need to adopt stricter regulation and better supervision of fintechs; crypto firms; and advisers such as lawyers, accountants, and tax specialists who might facilitate money laundering, said the Council of Europe’s anti-money laundering/countering the financing of terrorism body (AML/CFT), Moneyval.
