Plans to expand access to data identifying the beneficiaries of companies and trusts following a massive leak of documents from a Panamanian law firm last year now enjoy broad support in the European Parliament, say sources.
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.
Members of the European Parliament are weighing the use of formal powers to pressure the economic bloc's executive branch into disclosing how it prepared a proposed blacklist of high-risk countries earlier this year.
The European Commission on Thursday recommended the inclusion of 11 nations on a planned list of jurisdictions deemed to be particularly vulnerable to money laundering and terrorist financing.