| Author (Corporate) | European Commission: Press and Communication Service |
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| Series Title | Press Release |
| Series Details | IP/04/832 (30.6.04) |
| Publication Date | 30/06/2004 |
| Content Type | News |
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A proposal to further strengthen the EU's defences against money laundering and terrorist financing has been presented by the European Commission. The proposal would update and improve the EU's existing anti-money laundering Directive. In particular, money laundering would be defined as concealing or disguising the proceeds of a wider range of serious crimes. It would also ensure coherent application in all Member States of the latest Recommendations of the Financial Action Task Force (FATF), the world anti-money laundering body, which now cover not only the laundering of the proceeds of crime but the financing of terrorism. The proposal will be forwarded to the European Parliament and the EU's Council of Ministers for adoption under the so-called 'co-decision' procedure. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/04/832&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Subject Categories | Justice and Home Affairs, Security and Defence |
| Countries / Regions | Europe |
