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The European Parliament
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ECR Position 1

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Cite as https://mymun.com/ppdb/6410

Position Paper BMEU 2016: European Conservatives and Reformists

Directive of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing

As a member of the European Conservatives and Reformists, I am strongly in favor of the refined legislative proposal towards anti-money laundering allowing a better identification of beneficial owners and a risk-based approach. Nevertheless, several points need to be clarified by the Commission and, in the case this proposal is not fully in line with the reforms the EU needs to undertake, amendments will also be made to the proposal. In the preceding parliamentary debates, Mr Kirkhope, ECR group justice and home affairs spokesman, said: “The main aim of these reports was to right the wrongs of the past. For years both consumers and business ran into difficulties with implementing previous legislation. Our aim this time round has been to create a sensible, proportionate and effective way forward in the fight against money laundering. This report aims to minimize bureaucracy for business and inconvenience for consumers, as well as provide a tough new regime in the fight against illicit money”. I cannot do more than agree with my ECR colleague and the critics I will address now towards the Commission proposal follow ...

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