EU tightens money laundering rules
22 Dec 2016

The European Commission is shoring up money laundering measures to regulate cash flows and freeze terrorist assets.

On Wednesday (21 December) it presented a host of bills to tighten cash controls, ease cross border police probes, and speed up asset freezes and confiscation orders.

Finance commissioner Vladis Dombrovskis said in a statement part of the plan is to put “an end to criminals circumventing cash controls at the EU’s external border”.

The initiative is part of a larger “Security Union” package launched in April last year and spearheaded by EU commissioner Julian King.

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