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EU Parliament Approves Fourth Directive, Wire Transfer Rule
By Colby Adams
printEU lawmakers voted Tuesday to require member-states to update their laws targeting money launderers and the financiers of terrorism, in part by naming corporate owners. Under the Fourth Anti-Money Laundering Directive, approved 645-30 by the EU Parliament, members of the 28-nation bloc would have to maintain public registers listing the owners of more than 25 percent of the shares of companies and trusts, and ensure that nonbank entities, such as casinos, real estate companies, auditors and attorneys, report the suspicious activity of their clients. Financial institutions would also have to apply enhanced due diligence to accounts held for domestic lawmakers,...
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