The European Commission steps up the fight against money laundering
After several scandals within the Union, the European Commission is reforming the fight against money laundering and the financing of terrorism.
AFP - INA FASSBENDER
Text by: RFI Follow
2 min
After several scandals within the Union, the European Commission is reforming the fight against money laundering and the financing of terrorism.
It has just presented its package of measures aimed in particular at harmonizing the rules and their application between the member countries.
The aim is to "
close the loopholes used by criminals
".
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The key element is the creation of a European Union agency against money laundering by 2024. In particular, it will ensure coordination between national authorities.
It is also responsible for directly supervising certain financial institutions presenting particular risks, either because they operate in a large number of Member States, or because there is an emergency.
Always for more coordination and in the hope that the financial intelligence units can more easily get their hands on key information, connections between the national registers of bank accounts will be established.
To limited cash payments
In addition, and this could give rise to some negotiations, cash payments should be limited, at least in some countries.
Brussels wants, in fact, to establish a limit of 10,000 euros for cash payments.
This is more than what is allowed in some states, but about a third of members have no cap at all.
The Commission is not only tackling the case of banknotes, it is also interested in the most modern methods.
All of the vigilance rules will be applicable to electronic currencies, like bitcoins.
It will therefore be prohibited to hold an anonymous portfolio of crypto-assets.
This package of measures, welcomed by Paris, has yet to be negotiated with the European Parliament and the 27 Member States.
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