Ms Brenda McVeigh:

As FATF is considered the global standard-setter on AML matters the EU would certainly take account of any recommendations or findings of FATF when it is developing a directive. The directive is always developed in what are called the experts' group meetings and that is where, as I said, draft proposals are put together. There is no question but that FATF is highly persuasive on that. Those proposals, in the same way as any directive is put together, are considered in the experts' group. By the time a final draft package is put together you get into Council working party meetings, so the Council has an involvement at that point before and then you go to trilogues of the Parliament as well and then the directive, whatever the final consensus is, is adopted.