Fighting Money Laundering in the EU
MEPs voted to end secret ownership in the EU on 20 February. Transparency International applauds the decision taken by two European Parliament committees to make it harder to use anonymous shell companies and trusts to launder corrupt funds.
“The flow of dirty money into the EU remains a serious challenge that undermines the EU’s credibility as an anti-corruption actor. Making this information public is not only cost-effective, but will also help civil society, journalists and the public to weed out false information to help uncover corruption and crime.” says Carl Dolan Director of the Transparency International EU office.
Transparency International EU prepared a policy paper “Fighting Money Laundering in the EU: From Secret Ownership to Public Registries” (available here) which also includes recommendations for the 4th EU Anti-Money Laundering Directive.