Citizens should get access to data on firm owners to fight money laundering

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February 28 2017

EU citizens could access registers of beneficial owners of companies without having to demonstrate a “legitimate interest,” and trusts would have to meet the same transparency requirements as firms, under amendments, agreed by MEPs on Tuesday, to the EU Anti-Money Laundering Directive.

The amendments, 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 amended report was passed by 89 votes to 1, with 4 abstentions.