Press Release: Tougher rules on money laundering to fight tax evasion and terrorist financing

The European Parliament endorsed on 20 May 2015 new rules under which the ultimate owners of companies will have to be listed in central registers in EU countries, open both to the authorities and to people with a 'legitimate interest', such as investigative journalists.

These rules had already been agreed with the Council of the European Union through trialogue meetings.

The new anti-money laundering directive aims to step up the fight against tax crimes and terrorist financing. New rules to make it easier to trace transfers of funds were also approved.

Member states were given two years to transpose the anti-money laundering directive into their national laws. The transfers of funds regulation was set to be directly applicable in all member states 20 days after its publication in the EU Official Journal.

ESO: Background information: Money laundering: Council approves strengthened rules http://www.europeansources.info/record/press-release-money-laundering-council-approves-strengthened-rules/

European Commission: DG Communication: RAPID: IP/15/5001, 20.05.15: European Parliament backs stronger rules to combat money laundering and terrorism financing http://europa.eu/rapid/press-release_IP-15-5001_en.htm

EUObserver, 20.05.15: EU parliament cracks down on shell firms https://euobserver.com/justice/128776

EUObserver, 26.11.15: [Opinion] Europe's money-laundering machine: still spinning https://euobserver.com/opinion/131269

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