A large majority of members states failed to introduce by 10 January public registers to reveal the true owners of all companies based in their countries, as part of the fight against money laundering, a report published on Friday (20 March) revealed.
The Spanish newspaper elPeriodico published on Friday (21 February) an investigative report stating that Bulgarian Prime Minister Boyko Borissov is being investigated by the Catalan police for alleged involvement in money laundering and organised crime. Borissov has denied any wrongdoing.
The European Commission said it would only consider money-laundering reforms after it completes a thorough assessment of the issue, dashing hopes the EU executive would act rapidly to crack down on dirty money flowing through the continent.
The EU needs more competences to effectively fight money laundry, Vice-President for the Euro Valdis Dombrovskis and Commissioner for Justice Věra Jourová told reporters on Wednesday (24 July) during the presentation of a series of reports on financial crimes.
National banking supervisors who control the EU banking watchdog effectively forced it to clear financial regulators in Estonia and Denmark, who were investigated in relation to suspected money laundering activities by Danske Bank, a member of the European parliament said on Wednesday (17 April).
Member states on Monday (1 April) approved giving new powers to the European Banking Authority (EBA) to fight money laundering and terrorism financing, as part of an improvement of the European supervisory agencies (ESAs).
The European Parliament approved a report during its plenary session requesting EU institutions and member states to adopt measures against money laundering, fiscal fraud and tax evasion, EURACTIV's media partner Euroefe reports.
EU member states rejected on Thursday (7 March) the European Commission’s blacklist of countries unwilling to cooperate in the fight against money laundering and terrorism financing, as they blamed the EU executive of not being transparent during the drafting process.
The European Banking Authority launched a formal investigation on Tuesday (19 February) to determine if Estonian and Danish authorities had failed to enforce EU rules that would have prevented one of the largest-ever money-laundering scandals affecting Danske Bank.
The European Commission has included Saudi Arabia and Panama in an extended ‘blacklist’ of uncooperative jurisdictions in the fight against money laundering and terrorist financing, in an effort to regain citizens’ trust in the fight against financial crimes.
Deutsche Bank's chief anti-financial crime officer dodged questions from exasperated MEPs during a European Parliament hearing on Monday (4 February), amid reports of the German lender's involvement in a major money laundering case.
The European Union urged member countries on Wednesday (23 January) to crack down on schemes granting "golden visas and passports" to foreign investors, warning they can bring corruption and money laundering in their wake.
Malta's opposition on Monday (12 November) called for the tourism minister and the prime minister's top aide to resign after an investigation by Reuters and Times of Malta showed that Panama companies they had set up had arranged to receive money through a mystery company called 17 Black in Dubai.
The European Union should set up a new agency to counter money laundering after a series of high-profile cases at banks bared weaknesses in the system, an influential think-tank said in a report, urging full disclosure of fines imposed on wrongdoers.
According to a British report, 18 of the 20 leading European banks, including four French ones, have already been sanctioned for money-laundering offences over the past decade. EURACTIV France’s media partner La Tribune reports.
With its cash-for-passport practices, Europe has opened its door to the criminal and corrupt, with some member states running a lucrative industry of trading citizenship for money, said a new report by Transparency International and Global Witness.
In the wake of the Danske Bank scandal, Estonia's central bank has had to clarify cross-border payments made over the past ten years, amounting to approximately €900 billion. EURACTIV France’s media partner La Tribune reports.
Banks doing business in Estonia, which has been at the centre of a money-laundering scandal involving Danske Bank, handled more than $1 trillion in cross-border flows between 2008 and 2017, according to the country's central bank.
The Ecofin Council “broadly” supported on Tuesday (2 October) the European Commission’s proposal to transfer more powers to the European Banking Authority to investigate alleged cases of money laundering in the EU.