The European Parliament
S&D Position 9


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Proposal for a directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing

The parliamentary group of Socialsts and Democrats (S&D) should support the directive proposal. It provides efficient tools to prevent illegal financing activities while transparency is improved. Still, further efforts shall be made in this respect, with due attention to the protection of personal data.

The role of FIUs is central in the prevention of fraud. Their supervisory activity must be completed with necessary and ambitious tasks. Therefore, it is essential that the provisions of the article 12 are ensured. In this perspective, the full cooperation of Member States is required and their potential restrictions strictly limited and duly justified.

A clear added value this text brings is transparency, notably by prohibiting anonymous accounts and passbooks (art. 6). Cooperation between FIUs can only be effective on the ground of transparency. As MEP Annelise DODDS, Labour MEP of the ECON committee stated on 20 May 2015 : "Whe...

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