European Union leaders Tuesday outlined steps beyond the finalization of the bloc's latest anti-money laundering directive to stem the financial networks of terror groups, promising more regulation to come. In conjunction with the approval of the latest iteration of the directive and a rule on international funds transfers by two committees of the EU Parliament, the European Commission and Council of the European Union said that member-states should better cooperate on terrorist financing investigations and assess related risks linked to virtual currencies. To crack down on terror funding, nations should also move quickly to implement legal changes mandated by the...
Factions within the European Union reached a compromise Tuesday on the terms of the long-awaited Fourth Anti-Money Laundering Directive, including provisions to create central registers on the ultimate beneficial owners of corporate and other legal entities, as well as trusts in every member state.
The 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 European Commission unveiled proposals Tuesday for a Fourth Anti-Money Laundering Directive that would require greater disclosures of beneficial ownership and increased scrutiny of domestic politicians, among other changes.
Europe's financial intelligence units are asking the European Commission for uniformity in their ability to suspend suspicious transactions under a forthcoming anti-money laundering directive, a Dutch official said Monday.