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EU lawmakers seeking to strengthen the bloc's controls against financial crime beyond what is currently being considered will pitch more rigorous transparency requirements for trusts, virtual currencies, prepaid cards and bank and payment account holders.
Factions within the European Union reached a compromise Tuesday on the terms of the long-awaited Fourth Anti-Money Laundering Directive, including provisions to create central registers on the ultimate beneficial owners of corporate and other legal entities, as well as trusts in every member state.
EU parliamentarians voted Tuesday to require member-states to update their laws targeting money launderers and the financiers of terrorism, in part by naming corporate owners.
The EU Parliament adopted final recommendations Wednesday that would establish a public prosecutor's office and require member nations to ascertain the beneficial owners of companies incorporated within their jurisdictions.
Europe's financial intelligence units are asking the European Commission for uniformity in their ability to suspend suspicious transactions under a forthcoming anti-money laundering directive, a Dutch official said Monday.
