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EU’s Delegates to Endorse Latest AML Proposals Tomorrow
By Irene Madongo
printEU representatives are set to advance proposals Wednesday that would require member-states to collect more data on beneficial owners, better scrutinize the finances of politicians and harmonize cross-border wire rules. The expected endorsements of the Fourth Anti-Money Laundering Directive and a sister regulation on funds transfers would align the bloc with the Paris-based Financial Action Task Force's revised recommendations on fighting money laundering and terrorist financing. EU officials first proposed the changes in February 2013. The consideration of the measures by the Council of the European Union's Committee of Permanent Representatives (COREPER) precedes their expected approval by the EU Parliament...
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