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EU Lawmakers Approve AML Recommendations Ahead of Fourth Directive Vote
By Colby Adams
printThe EU Parliament adopted final recommendations Wednesday that would establish a public prosecutor's office and require member nations to ascertain the beneficial owners of companies incorporated within their jurisdictions. The recommendations by the EU Special Committee on Organized Crime, Corruption and Money Laundering call for countries to harmonize their asset forfeiture and money laundering statutes to ease international cooperation in investigations of the estimated 3,600 organized crime groups operating within the 28-nation bloc. The lawmakers, who also reiterated a Group of 20 call for an end to bank secrecy havens, recommended that nations hold parent companies legally responsible for the...
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