The European Council adopted a directive Wednesday ordering member-states to lessen bank resistance to account applicants from other EU nations as part of an initiative to foster cross-border hiring.
Even with the parliamentary passage of the EU's anti-money laundering directive last month, tough debates lie ahead for the economic bloc's plans to better identify financial criminals, say observers.
EU nations may soon require banks to turn away fewer account applicants, and justify when they do, after the economic bloc's lawmakers adopted a directive meant to foster cross-border hiring.
European Union nations must harmonize their asset forfeiture and property confiscation laws to comply with a directive adopted Friday by leaders of the economic bloc.
The expected approval of amendments to the EU's proposed Fourth Anti-Money Laundering Directive will shine greater light on tax evaders and financial criminals hiding behind shell companies and trusts, according to Judith Sargentini, a Dutch member of the European Parliament.
European parliamentary members are set to require countries to publish registries naming the beneficial owners of privately-held corporations and trusts as part of a broad overhaul to the EU's anti-money laundering rules.
Ready or not, Bitcoin is growing in Europe, even as European regulators struggle to figure out how or if they'll police the virtual currency.
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.
A panel of European Union lawmakers approved plans Tuesday to harmonize definitions of corruption and money laundering throughout the bloc and ease asset seizures
A European Union decision to impose sanctions on Hezbollah's military wing will also compel financial institutions in Europe to comb their accounts for links to the group's social services and fundraising arms.
A group of European Parliament members will soon weigh in on whether lawmakers should create an EU-wide police force and more closely cooperate on border security to stem financial crime, according to Bill Newton Dunn, a British lawmaker.
The top European Union official for civil rights said Wednesday that the U.S. Justice Department has yet to answer all of her concerns about a controversial American surveillance program.
European Union officials discussed plans Tuesday to cooperate with a U.S. law aimed at tax evaders, and the expected introduction of a new model agreement for related, reciprocal data exchanges.
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.
The European Commission will propose two measures next week to update the EU's Third Anti-Money Laundering Directive and a primary regulation governing wire transfers, a spokesperson for the organization said Friday.
A European Union bill that places anti-money laundering requirements on offshore investment vehicles and drafts their national regulators to certify the funds' compliance with EU laws was approved Monday.
The European Commission proposed Wednesday a data sharing agreement that would grant European Union investigators access to information on U.S. bank accounts in cases of suspected terrorist ties.
As the deadline nears for the 25 member countries of the European Union to implement the provisions of the EU Third Money Laundering Directive, U.S. bankers have become aware that it's tougher in some provisions than the USA Patriot Act and other U.S. banking regulations.
A measure that standardizes rules for electronic payment services across the European Union will boost competition among money services businesses, banks and other financial institutions, MSB professionals say.