Press review: EU Anti-Money Laundering Directive

Bloomberg about the EU Anti-Money Laundering Directive and the role of the member states

Dec 17th, 2016

Bloomberg BNA

"[...] “Member states act as if the Panama Papers and Bahamas Leaks scandals had not happened,” Fabio de Masi, a German member of the European Parliament, told Bloomberg BNA Dec. 14. “Access restrictions to corporate registers are inefficient, costly to administer and run counter to the fundamental idea of transparency.”

He predicted that contrary to what EU member countries are expected to approve on Dec. 20, the European Parliament will back measures that prevent exemptions “in order to prevent the cancer of illicit financial flows and offshore secrecy.”

After both the Council of Ministers and the European Parliament approve their respective versions of the legislation, the two sides must agree on a compromise version of the bill before it becomes law. [...]"

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