This document is an excerpt from the EUR-Lex website
Glossary of summaries
MEASURES TO COMBAT MONEY LAUNDERING
Money laundering is the process by which criminals conceal the illegal origin of the resulting property or income.
The EU is working to prevent the misuse of the financial system and to improve cooperation between EU countries so as to fight against money laundering. Its measures are governed by the Treaty on the Functioning of the European Union (TFEU):
EU financial crime rules are mostly based on international standards adopted by the Financial Action Task Force. Proposals made in 2013 seek to update and improve the existing rules on anti-money laundering and information accompanying funds transfers.