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EU Lawmakers Plan New Committee on Financial Crime

By Koos Couvée

Lawmakers from a range of EU political alliances want to revive a now-dormant committee to review money laundering and tax-related issues on a more permanent basis following massive compliance violations in Denmark, Germany, Latvia, Sweden and elsewhere in Europe. Since November 2014, the European Parliament has created three temporary committees to investigate tax evasion and illicit finance, each with a year-long mandate, and a separate committee in June 2016 after records leaked from a Panamanian law firm outlined the movement of billions of dollars in licit and illicit wealth offshore through a network of legal entities. "Every couple of years...

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