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France to Expedite Counterterror Finance Reforms
By Irene Madongo
printThe French government intends to move quickly to strengthen protections against terrorist financiers, including broadening investigatory access to data on suspected militants and toughening oversight of prepaid cards, a top official said Monday. On the heels of reforms earlier this year that lowered transactional reporting thresholds for banks, France will broaden its powers to seize property and public funds linked to terrorist groups and loosen restrictions on information that the nation's financial intelligence unit, known as Tracfin, can share and receive, said Finance Minister Michael Sapin. Officials will also grant Tracfin access to a law-enforcement database of individuals suspected of...
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