Anti-Money Laundering: Stronger rules to respond to new threats
EU News 51/2013
5 February 2013
The Commission has today adopted two proposals to reinforce the EU's existing rules on anti-money laundering and fund transfers. The threats associated with money laundering and terrorist financing are constantly evolving, which requires regular updates of the rules.
Today's package, which complements other actions taken or planned by the Commission in respect of fight against crime, corruption and tax evasion, includes:
- A directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing
- A regulation on information accompanying transfers of funds to secure "due traceability" of these transfers
Both proposals fully take into account the latest Recommendations of the Financial Action Task Force (FATF) (see MEMO/12/246), the world anti-money laundering body, and go further in a number of fields to promote the highest standards for anti-money laundering and counter terrorism financing.
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