Anti-Money Laundering: MEPs Vote To Shed Light On The True Owners of Companies

Source: European Parliament (EuroParl.Europa.eu)

  • Identify beneficial owners of companies operating in the EU
  • EP to back closer controls on virtual currencies
  • Greater protection for whistleblowers

To shed light on the true owners of letterbox companies, any citizen will, in future, be able to access data about the beneficial owners of firms operating in the EU.

MEPs supported on Thursday — by 574 votes to 13 votes, with 60 abstentions — a December agreement reached with the Council, which also proposed closer regulation for virtual currencies, like Bitcoin, to prevent them being used for money laundering and terrorism financing.

The agreement represents the fifth and latest update to the EU’s Anti-money laundering Directive and is partly a response to the terrorist attacks of 2015 and 2016 in Paris and Brussels, as well as the Panama Papers leaks.

(Read more at European Parliament (EuroParl.Europa.eu))

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