EU parliamentarians voted Tuesday to require member-states to update their laws targeting money launderers and the financiers of terrorism, in part by naming corporate owners.
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.
An EU plan approved Thursday that could force banks in member-states to open accounts for most applicants would complicate anti-money laundering compliance efforts, according to critics.
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 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 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 Union's commissioners asked lawmakers Wednesday to consider broadening the scope of Europe's anti-money laundering directive, lowering beneficial ownership thresholds and strengthening controls on accounts held for political figures.
U.S. and Mexican officials announce the findings of a study on how drug money moves between the two countries and the European Commission tells France it could face monetary penalties for not complying with the EU's Third Directive, in this week's news roundup.
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.
Irish lawmakers introduced a measure Tuesday that would impose anti-money laundering rules on casinos and company service providers in an effort to bring the country in line with a European directive.
Belgium and Ireland face potential fines and sanctions for failing to strengthen their anti-money laundering laws as part of a European Union directive, the London-based International Bar Association said Thursday.
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.
European bankers say that while the European Commissions newly tailored anti-money laundering laws are a pretty good fit, they could use some adjustments.