In the past couple years, the European Union has experienced the fallout from multiple scandals relating to money laundering and corruption. In September 2018, a report was released that identified $229 billion worth of suspicious transactions that flowed through one Dankse Bank branch in Estonia. Dutch bank ING N.V. agreed to pay $900 million to settle an investigation into money laundering issues. The Fifth Anti-Money Laundering directive was released to address the current issues with money laundering, but perhaps the EU needs to focus on deterring offenders and prosecuting offenders.
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