EU Anti-Money Laundering

PROBLEM:

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.

SOLUTION:

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.

TI EU Public Statements:

  • 20 May 2015: New data shows EU citizens back crack down on dirty money. Read here.
  • 17 December 2014: EU agrees money laundering transparency reforms, but full access denied. Read here.
  • 05 December 2014: Joint CSO letter Anti-Money Laundering Directive and the importance of transparency. Read here.
  • 20 June 2014: EU Member States agree to clamp down on money laundering loopholes. Read here.
  • 11 March 2014: European Parliament gives overwhelming ‘yes’ vote to end secret corporate ownership. Read here.
  • 20 February 2014: MEPs vote to end secret ownership in the EU. Read here. 
  • 24 January 2014: Fighting Money Laundering in the EU – from Secret Ownership to Public Registers. Read the policy paper here.
  • 22 January 2014: Beneficial Ownership Transparency in the EU Anti-Money Laundering Directive. Read more.
  • 23 October 2013: Transparency International EU joins the European Parliament in its call for full transparency of company ownership. Read more.
  • 21 May 2013: EU leaders must end financial secrecy. Read more.
  • 5 February 2013: TI suggests new EU anti-money laundering proposals still leave risk for laundering proceeds of corruption. Read more.

Written contributions to EC Consultations:

  • 17 April 2012: TI recommendations to DG Internal Market on review of Third EU Anti-Money Laundering Directive. Read more.

Blogs posts specific to the campaign:

logo TI

PRESS RELEASE: New research shows transparency does not negatively affect business competitiveness

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

logo TI

PRESS RELEASE: Proposed EU rules one step closer to ending anonymous companies

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

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After the Panama Papers it’s time for beneficial ownership transparency

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

Read more:

  • EU Anti-Money Laundering
  • news:

    reference documents:

    • January 2013: TI-EU referenced in European Parliament CRIM Committee report “Relationship between Money Laundering, Tax Havens and Tax Evasion”. Read here.
    • 21 May 2012: TI-EU welcomes the European Parliament’s Special Committee on Organised Crime, Corruption and Money Laundering. Read more.
    • 12 April 2012: TI-EU briefing note on frozen assets and escrow accounts. Read more.

     

    links:

    Contact details

    Laure Brillaud

    EU Policy Officer – Anti-Money Laundering

    + 32 (0) 2 893 24 53

    E: lbrillaud@transparency.org