How to fight financial crime

James Williams, joined by Fredrik Wilhelmsson and Mikael Flod, is talking about money laundering and the role banks play in detecting and preventing it. The topic has certainly gotten a lot of attention in recent years, not just within the financial industry, but in politics and news media as well. Just to name a few recent examples: Danske Bank with one of the largest money laundering scandals in European history, just recently Deutsche Bank was forced to replace their very controversial head of anti-money laundering, and the EU has announced new laws in the fight against money laundering. The fact that the European anti-money laundering directive has already been adapted five times shows "that we have not done enough each time," said Financial Market Commissioner Mairead McGuinness in an interview with the "Süddeutsche Zeitung".