Parliament backs public registers of companies’ owners

| March 12, 2014 | 0 Comments

bank transactionThe European Parliament adopted 11 March an overhaul of EU anti-money laundering rules which includes the introduction of publicly accessible registers for companies and trust owners.

Estimates about the magnitude of money laundering are obviously patchy, but figures converge on a range between 3% and 5% of the world’s Gross Domestic Product.

With tighter public budgets and efforts to counter terrorism funding, EU lawmakers have moved the anti-laundering file up their agenda. At the beginning of last year, the European Commission presented a proposal to update and toughen existing rules.

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Category: POLITICS

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