07:07 GMT +315 October 2019
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    Europeans Could Get Access to Data on Firm Owners to Fight Money Laundering

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    According to the parliament’s press service, European Parliament’s committees agreed on new transparency requirements for firms and trusts on Tuesday, aimed at preventing money laundering and terrorism financing.

    MOSCOW (Sputnik) The European Parliament’s committees agreed on new transparency requirements for firms and trusts on Tuesday, aimed at preventing money laundering and terrorism financing, the parliament’s press service said.

    "The amendments [to the EU Anti-Money Laundering Directive], agreed by the Economic and Monetary Affairs and Civil Liberties committees, would plug gaps in the EU’s framework legislation against money laundering and terrorism financing. They would also introduce stricter transparency rules to prevent tax evasion," the press release read.

    According to the press release, the new amendments provide EU citizens with a wider access to beneficial ownership registers, without having to demonstrate a "legitimate interest" in the information. The scope of the directive has also been expanded to cover trusts and other types of legal arrangements with a similar function.

    The committees voted in favor of the requirements by 92 votes to one, with one abstention, the press release said. The European Parliament as a whole should now give a go-ahead during the plenary session in March to start talks with the European Commission and Council.

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