Money laundering allows the corrupt to legitimise the illegal. It distorts economies and is an obstacle to a stable EU market. When dirty money is laundered in EU financial markets, corruption is facilitated and governance standards are undermined. We see time and again the world’s most corrupt laundering their ill-gotten gains in EU financial centres with relative ease.
EU money laundering regulations need to be better enforced, and more information is required so that the source of funds can be better identified. Information on who ultimately owns and controls companies, trusts and other legal structures needs to be made publicly available in registers across the EU. The EU is currently reviewing its anti-money laundering rules, with a Fourth Anti-Money Laundering Directive expected in late 2014.
EU Anti-Corruption, EU Anti-Money Laundering, EU Corporate Integrity -
Brussels, 13 July 2016 – Corporate claims about the impact of transparency on business do not stand up, according to new research published by Transparency International EU today. While more and more multinational companies are publishing detailed financial information about each …
Posted 13 Jul 2016 No Comments
EU Anti-Money Laundering, Uncategorized -
Transparency International EU today welcomed the European Commission’s steps to give the public access to information on who ultimately controls and benefits from secret companies. Unfortunately, the Commission left loopholes that will allow corruption, tax evasion and other anti-social acts …
Posted 5 Jul 2016 No Comments
EU Anti-Money Laundering -
The ‘Panama Papers’ are on everyone’s lips these days. But, what do they actually tell us that we didn’t already know? That the global financial system is plagued by shady practices and secrecy? This is a well known tale. What …
Posted 28 Jun 2016 No Comments