MEPs have resoundingly backed the Commission’s action plan for fighting money laundering and terrorist financing. In a press release, the European Parliament said it “deplores” the incorrect and patchy implementation of AML/CTF rules and called for a zero-tolerance approach and infringement procedures against those who lag behind.
It welcomes the plan for a co-ordination and support mechanism for FIU and calls on the Commission to set up interconnected and high-quality beneficial ownership registers with high standards of data protection. It also calls for immediate blacklisting for high-risk jurisdictions, and for the scope of supervised entities to be expanded to include new and disruptive market sectors.