EU comes with stronger rules to combat money laundering and terrorism financing
Věra Jourová, the EU's Commissioner for Justice, Consumers and Gender Equality, welcomed the vote in Parliament which marked the final adoption of the anti-money laundering package: “Serious and organised crime is driven by profit - tracing the illicit proceeds of crime back to the criminal networks is essential both to detect, prosecute and dismantle those networks and to seize and confiscate their criminal wealth.
"The new anti-money laundering rules adopted today will help us follow the money and crack down on money laundering and terrorist financing."
The new strengthened European anti-money laundering framework will contribute to the fight against terrorist financing and money laundering by:
facilitating the work of Financial Intelligence Units from different Member States to identify and follow suspicious transfers of money and facilitate the exchange of information;
establishing a coherent policy towards non-EU countries that have deficient anti-money laundering and counter-terrorist financing regimes;
ensuring full traceability of funds transfers within, to and from the European Union. ■