A European Union decision to impose sanctions on Hezbollah's military wing will also compel financial institutions in Europe to comb their accounts for links to the group's social services and fundraising arms. The designation, published Monday, calls for banks on the continent to freeze assets linked to the organization's militant members, who have been tied to a July 2012 bombing of a bus in Bulgaria that killed five Israeli tourists and the driver, and the arrest that month in Cyprus of a Hezbollah operative alleged to have been preparing a similar attack. Although questions abound about the efficacy of the...
A bipartisan bill targeting banks that offer financial services to Hezbollah is likely to garner broad political support among U.S. lawmakers, according to advocates of strong counterterrorist measures.
The expected approval of amendments to the EU's proposed Fourth Anti-Money Laundering Directive will shine greater light on tax evaders and financial criminals hiding behind shell companies and trusts, according to Judith Sargentini, a Dutch member of the European Parliament.
European parliamentary members are set to require countries to publish registries naming the beneficial owners of privately-held corporations and trusts as part of a broad overhaul to the EU's anti-money laundering rules.
The U.S. Treasury Department sanctioned four Lebanese nationals for terrorist ties, the EU is looking to step up its fight against tax evasion by expanding the automatic exchange of information between member states' tax administrations, and more, in the midweek roundup.