schemes the list of banks accused of money laundering is a who's who of european lenders at the top is don sco bank denmark's national bank which admitted that much of the two hundred thirty billion dollars flowing into its tiniest only a branch from two thousand and seven to fifteen was likely suspicious so how does it happen either member nations are in charge of policing their own banks but there's no easy wide regulator and since eve banks can freely transfer money to each other it takes only one unscrupulous bank to inject money into the entire system and where does the money go it could be hidden in an offshore bank account or used in a criminal or a list at enterprise so what can be done to stop it for more on that i'm joined now by nick a lifer own he's a senior fellow at the peterson institute for international economics in washington d.c. . you've written recently about this very issue tell me what's currently in place for e.u. member states to stop money laundering but just points are higher principles of the global level recommendation from suitable financial action task force and