The European Parliament
ECR Position 5


Adelice Meunier

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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 single market is of great importance for citizens around Europe. ECR believes that the EU needs a dynamic, fully functioning Single Market. This proposal aims at better protecting the single market from fraud by setting risk assessment mechanisms, by making exercise of due diligence, by establishing reporting obligations and by keeping records and statistical data of monetary transfers. Our political group believes that it is important that everyone plays with the rules and ECR supports all efforts to ban misleading and illegal practices. However, some provisions proposed by the Commission would need further amendments, especially the role of Financial Intelligence Units (FIUs). FIUs have an unnecessary large power of investigation. The Member States are in some cases subordinate to the FIUs and this is contrary to the respect of national sovereignty and the principle of proportionality. Europe also needs a renewed respect for the principle of subsi...

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