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EU Financial Crime Panel Completes 1-Year Term, Seeks Longer Mandate

By Gabriel Vedrenne

After 18 hearings and four fact-finding missions, the European Parliament's special committee on money laundering, tax avoidance and tax evasion in its final session Wednesday put forward final recommendations for clamping down on financial crime in the European Union. Members of the committee, also known as TAX3, pitched several fixes to the European Union's current vulnerabilities to financial crime in a report, such as establishing a bloc-level anti-money laundering watchdog and putting an end to "golden visa" programs, but the first concrete measure could see the panel's term extended indefinitely. "We have a security and defense subcommittee, a human rights...

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