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EU Committee Approves Plan to Strengthen FIUs, Harmonize AML Efforts
By Colby Adams
printA panel of European Union lawmakers approved plans Tuesday to harmonize definitions of corruption and money laundering throughout the bloc and ease asset seizures. The measures drawn up by the EU Special Committee on Organised Crime, Corruption, and Money Laundering would also require public officials to regularly make financial declarations, bar companies and individuals convicted of financial crimes from holding office or bidding on contracts and create an EU public prosecutor's office to investigate illicit activity. The plan, adopted by a vote of 29-0 with eight abstentions, recommends that lawmakers grant anti-money laundering supervisory authority to a number of EU...
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