The European Parliament
S&D Position 1
Cite as https://mymun.com/ppdb/6386
Topic A : Prevention of the use of the financial system for the purpose of money laundering and terrorist financing
In such a globalize world in which we live in, I do think that a proposal which insists on transparency is relevant.
Indeed, if we want to put an end to money laundering and by this means, terrorist financing, the best tool we can use is transparency and a legal framework which will make it effective.
While giving a lot of power to the Financial Intelligence Units can be questioned, it is important to take in account the responsability of each Member State about their FIU’s actions.
The proposal highlights the fact that those entities will have a lot of power, but also insists on the objectives those needs to fac...