9.04.2014. European Parliament Backs New Money Laundering Law


On 17 March 2014 the European Parliament has voted in favor of draft anti-money laundering rules that would require the ultimate owners of companies and trusts to be listed in public registers in European Union (EU) countries. If the amendments make it through the new parliament, they would provide for the establishment of a central public register in each EU state. The individual registers would then be interconnected across the Union and be made publicly accessible. The proposals are intended to force banks and other financial institutions to be more vigilant about “suspicious” transactions made by their clients.