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EU Lawmakers Want Stronger Due Diligence, More Ownership Data and AML Rules for Soccer

By Gabriel Vedrenne

European lawmakers welcomed plans Thursday to further update the EU's anti-financial crime defenses, but suggested that the bloc also make enhanced due-diligence obligatory for wealthy clients and lower the current percentage threshold for identifying beneficial owners. During a 1-hour debate in Brussels, members of the European Parliament's Economic Affairs and Civil Liberties committees voiced support for the European Commission's development of a single anti-money laundering rulebook that will apply uniformly across the bloc, but called for even stronger measures to combat illicit finance. "This Parliament is really united in its attitude ... we are ready to make stricter rules," Finnish...

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