Europe I Region

Mr. Francois MAGNAUD
Regional Representative Europe I, 2017-2019

Mr. Gabor SIMONKA
Regional Representative Europe I, 2017-2019

EGMONT EUROPE I REGION consists of the 28 EU Member States and two EEA (EUROPEAN Economic Area) States: Iceland and Norway.

The EU was created in the aftermath of the Second World War. The first steps were to foster economic cooperation: the idea being that countries that trade with one another become economically interdependent and so more likely to avoid conflict.

What began as a purely economic union has evolved into an organization spanning policy areas, from climate, environment and health to external relations and security, justice and migration. A name change from the European Economic Community (EEC) to the European Union (EU) in 1993 reflected this.

The EU is based on the rule of law: everything it does is founded on treaties, voluntarily and democratically agreed by its member countries.

The EU bases its fight against ML and TF on so-called directives. These EU-Directives, which are closely linked to the FATF recommendations, have to be implemented into the respective national laws of the EU Member States. The ERA States traditionally implement most of EU regulations into their national laws, too.

All EU Member States are Members of EGMONT. The same applies for the EEA States.

The EU is very ambitious in having a leading role in the fight against ML and TF. The recent and new 4th ML directive clearly reflects this ambitious path as many instruments, especially concerning TF, go beyond what is demanded by FATF as a minimum standard.