The EU needs better anti-money laundering rules

Since February 2013, the European Union has made money laundering and terrorist financing a central focus. In reviewing and updating the third Anti-Money Laundering Directive (AMLD), the European Union has tried to target the process by which criminal proceeds and illicit funds are moved throughout the continent and beyond.

The FTC has been following their progress closely, and have advocated for sensible reform to allow the EU to set the standard on anti-money laundering. But to be the standard-bearer on financial transparency, EU decision-makers must regulate the anonymous legal entities that help hide the identity of criminal and corrupt individuals. Right now, it’s still too easy to get away with shady deals.

EUObserver [Opinion], 02.07.14: Will the EU's new anti-money laundering rules have teeth? http://euobserver.com/opinion/124838

ESO: Background information: Council agrees a negotiating mandate on money laundering http://www.europeansources.info/record/press-release-council-agrees-a-negotiating-mandate-on-money-laundering/

FTC: Learn About Illicit Financial Flows Key Terms Print As Italy takes over EU presidency, what will happen to beneficial ownership registers?, July 2014 http://www.financialtransparency.org/2014/07/02/as-italy-takes-over-eu-presidency-what-will-happen-to-beneficial-ownership-registers/

openDemocracy: Can Europe Make It?, 01.07.14: The EU needs better anti-money laundering rules http://www.opendemocracy.net/can-europe-make-it/koen-roovers/eu-needs-better-antimoney-laundering-rules

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