The European Parliament
S&D Position 13
Cite as https://mymun.com/ppdb/6394
Proposal for a directive on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing
The S&D Group stands for an inclusive European society based on principles of freedom, equality, solidarity, diversity and fairness. With that in mind, S&D strongly favours the Proposal on money laundering and terrorist financing, as it is a step towards improvement of financial markets, which demand a wide scope action taken by EU as a whole in order to eliminate the room for criminal activities. One of the top priorities of the party is to pursue idea of fair markets. That means that money laundering and terrorist financing has to be stopped. In order to find an end to this issue, Member States need to accept this Proposal, as benefits of saving the losses of money laundering and getting those funds re-injected into economy through state funds are prevailing over potential breach in privacy and individual rights issue. The key issue that needs to be solved is transparency of own...