ECB steps up scrutiny of banks at high risk of money laundering

FRANKFURT (Reuters) - The European Central Bank is stepping up scrutiny of banks at high risk of money laundering activity by launching a dedicated network of supervisors, its chief supervisor Daniele Nouy said on Tuesday.

"The AML (anti-money laundering) Office will set-up and chair 'an AML Network' among Joint Supervisory Teams in charge of the banks whose business model leads to a high level of money laundering risks," Nouy told European Union parliamentarians.

(Reporting By Francesco Canepa; Editing by Balazs Koranyi)