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The European Parliament wants to lower the threshold at which financial institutions must identify the true owners of legal entities they serve from 25 percent to 15 percent, and to as low as 5 percent for those deemed inherently vulnerable to illicit finance. Lawmakers pitched the amendment, which faces resistance from the financial services industry, alongside a raft of other proposals to revise plans already in motion to develop a single anti-money laundering rulebook, or regulation, that will apply uniformly across the EU, a bloc-wide AML regulator and a new AML directive. Members of the Committee on Economic and Monetary...