New anti-money laundering rules victory in the fight against criminals & corruption
Financial crime
Today, Members of the European Parliament will vote on the agreements on a series of laws that will ramp up the EU’s fight against money laundering. The Anti-Money Laundering package will see the creation of a new EU AML Authority (AMLA), and update and widen the scope of existing rules to close down loopholes for money laundering in Europe. New rules will apply to football clubs and agents, high net worth individuals, luxury goods such as private jets, cash limitations, along with a meaningful blacklist of third countries. There will be new limitations on cash and crypto-assets, and measures against golden visas.
Kira Peter Hansen MEP, Greens/EFA shadow rapporteur in the Economic and Monetary Affairs Committee, comments:
“Today’s vote on the anti-money laundering package is a huge leap forward in the fights against illicit financial flows in Europe. The new rules will cover areas that previously could attract illicit funds but had fallen under the radar of authorities or out of the scope of previous legislation. New rules will apply to football clubs and agents, high net worth individuals, luxury goods such as private jets, cash limitations and politically exposed persons. Finally, there will be a meaningful blacklist of third countries with poor money laundering records.
“There will be new limitations on cash and crypto-assets, and measures against golden visas. Competent authorities, as well as persons with a legitimate interest including journalists and relevant civil society organisations, will have direct access to the information required to effectively uncover and investigate money-laundering schemes.”
Gwendoline Delbos-Corfield MEP, Greens/EFA shadow rapporteur in the Civil Liberties, Justice and Home Affairs Committee, comments:
“For too long criminals, corrupt officials and the foreign governments have been able to exploit the loopholes in the EU’s anti-money laundering rules to their own nefarious ends. The levels of corrupt Russian cash in Europe highlighted in the wake of Putin’s invasion of Ukraine as well as story after story exposed by tireless investigative journalists shows just how at risk the EU is to money laundering. With this package, we are saying no more and closing down the avenues for corrupt cash to flow through our continent.
“The new anti-money laundering package is a huge win in the fight against money laundering. The creation of a dedicated authority will transform the fight against money laundering in the EU and will enhance cooperation among Financial Intelligence Units. The new Authority will be the central body coordinating national authorities to ensure the private sector correctly and consistently applies EU rules against money laundering."
More:
The debate can be followed live from around 13:30 here. The votes on the AML files will take place this evening between 17:00 and 18:00.
