EU states to delay reform of bank money-laundering oversight, draft shows

European Union finance ministers are set to delay a reform of money laundering supervision at banks next week because they first want to assess recent alleged cases of financial crime at the bloc's lenders, an EU draft document shows.

The text, to be adopted on Dec. 4, backs a need "to strengthen the effectiveness of the current framework" after recent scandals, but does not propose institutional or legislative changes, like the creation of an EU-wide supervisor recommended by the European Central Bank.

The document details an action plan that is meant to be the EU response to a series of high-profile cases of alleged money laundering at banks in several EU states, including Denmark, Estonia, Latvia, Luxembourg, Malta, Spain, the Netherlands, Britain and Cyprus.

The plan foresees a review of recent bank scandals that could delay indefinitely legislative...