News

EU Finance Ministers Agree to French Approach on Stopping Terror Financiers

By Irene Madongo

EU finance ministers broadly endorsed a French plan to tackle terrorist financing ahead of the expected issuance in the coming weeks of related regulatory proposals by the European Commission. The 13-page French proposal drafted last week would require the bloc's member-states to permit financial intelligence units to obtain data from financial institutions even when the information is not linked to suspicious transaction reports, and to otherwise streamline international cooperation among the agencies. EU nations would also impose stricter controls on digital funds, strengthen border checks on precious metals and prepaid cards and consolidate certain bank account data in centralized registers...

TO READ THE FULL STORY