Rapporteurs Eero HEINÄLUOMA, (S&D, FL), Damien CARÊME, (Greens/EFA, FR), Paul TANG, (S&D, NL), and Ludek NIEDERMAYER (EPP, CZ) hold a press conference on the provisional deal on anti-money laundering package. The Council and Parliament found a provisional agreement on parts of the anti-money laundering package that aims to protect EU citizens and the EU's financial system against money laundering and terrorist financing. This transcription is a result of an automatic process. Please check against delivery.

Strasbourg

press conference

NIEDERMAYER, Luděk (EPP, CZ)

fight against organised crime, corruption and money laundering (T)

TANG, Paul (S&D, NL)

HEINÄLUOMA, Eero (S&D, FI)

CARÊME, Damien (Greens/EFA, FR)

Press conference by Eero HEINÄLUOMA, (S&D, FL), Damien CARÊME, (Greens/EFA, FR), Paul TANG, (S&D, NL), and Ludek NIEDERMAYER (EPP, CZ) on the provisional deal on anti-money laundering package

https://api.multimedia.europarl.europa.eu/documents/20125/74302762/1705570388171_I251798Chapters%5BSD-EN%5D.srt

SOUNDBITE (English), Paul TANG, (S&amp;D, NL), Rapporteur, Thank you. And let me start by saying that I am happy that we stand here as a team of the European Parliament working on a package that makes the approach in the fight against anti-money laundering more European. And you could see is more European because we will initiate an European authority, and we have a regulation that will make sure that we don't have different approaches across nation states, across Member States, allowing a common approach. So it is more European that has always been a deep wish from the European Parliament, and is necessary because oligarchs and criminals don't stop at national borders.

SOUNDBITE (English), Paul TANG, (S&D, NL), Rapporteur, So that was to kick off. On the directive, I think the Parliament had major priorities that had been taken on board. First of all, that maybe also for the interest of journalists, we wanted to have quick and easy access. After the ruling of the ECJ, it was unclear how access should be organised. The Parliament pushed for quick and easy access for those with a legitimate interest, and that includes journalists, NGOs and academia. We think it's very important that they have good access so that they can dig deep. They have a crucial role to play in the fight against money laundering and that has been concluded, quick and easy access within 12 working days, maybe, except from the start. So that's good.

SOUNDBITE (English), Paul TANG, (S&D, NL), Rapporteur, The second thing. And you will see that more also in in in the regulation. What we tried to do is now to extend the scope of the register and that sense to have more oblige entities and better coverage of data, particularly for the directive. One of the discussions from the European Parliament, one which from the European Parliament, was high value assets. Think about cars, boats and planes. After hard negotiations, the Council has agreed to that. So what we will see is that transactions for cars, boats and planes will be recorded and will be available to use for further investigation. This is transaction based. So if a car is above the €250,000 and if the yachts and planes are more expensive, they need to be recorded by the traders in high value assets or be it the notaries or the obliged entities, like a bank. Leading us to a registry of high value assets. I think there's been a deep wish from the European Parliament and we were able to to accomplish that.

SOUNDBITE (English), Paul TANG, (S&D, NL), Rapporteur, Third, what you see here is representative both from the ECON Committee and the LIBE Committee. So very important for us is to have protection of data and fundamental rights. So I was happy to see that in the directive we were able to secure that. If FIU does not live up to its task, does not operate with integrity or does operate without professionalism, they can be excluded. Their data cannot be shared if IFU is not functioning properly.

SOUNDBITE (English), Paul TANG, (S&D, NL), Rapporteur, Secondly, we also were able to introduce a fundamental rights officer that is taking care that any analysis done by the national FIUs or by the ALMA European Authority doesn't violate fundamental human rights. We think that's very important. Now, I will not give the floor to my my colleague to complete and to supplement. Thank you.

SOUNDBITE (English), Ludek NIEDERMAYER (EPP, CZ), Rapporteur, Thank you. Thank you very much. And let me start with also appreciating that we were able to find the agreement on all the package. And let me also mention that I appreciate a very professional approach on the side of Belgian presidency. To this press conference. So when I was coming here, I found that we are in a Daphne Galizia room, and I guess this is not an accident. This young journalist was killed because she was trying to investigate the serious crimes, including the money laundering. I guess this should remind us that money laundering is a very serious crime. And it's not only crime on its own, the ability to launder money, to launder legalised illicit proceeds of crime, is stimulating the crime. So that's why it's absolutely necessary that we do we do much more.

SOUNDBITE (English), Ludek NIEDERMAYER (EPP, CZ), Rapporteur, Then I was taking this job as the rapporteur. I was, as most of my colleagues, that overall system in the EU will be only as strong as will be the weakest points, and that's why I'm for mentioning it. We want to make it more European, not into order just to make it more European, but make sure that these weak points are sufficiently strong and overall system system works. So that's why I was grateful that the Commission finally canvassed the idea that a part of the legislation to a regulation that will be directly equally implemented across the EU. And that's I am glad to that was proposed.

SOUNDBITE (English), Ludek NIEDERMAYER (EPP, CZ), Rapporteur, Since the proposal word has changed, and we we witnessed something that was unthinkable before this, the Russian aggression. You know that since the first day we were looking after oligarch assets, and we found, and it was frustrating, that it is very difficult to trace them. So that's why a lot of them escape. A lot of things have changed hands. And this was other input to that that forced us really to reconsider if we should not improve to the Commissionproposal.

SOUNDBITE (English), Ludek NIEDERMAYER (EPP, CZ), Rapporteur, So to sum up the overall package, I guess it's really essential that we agreed that there will be strong regulation that will make sure that implementation will grow across the board. And the coordinated quality of work of the national authorities. Now, let me go to a few points from the file that we've working on. Europe is committed itself to be in the digital age. That's why it was a very strong call from the European Parliament that the data must be processed digitally. Also, for example, to be translated, if they are not in proper language, can be processed automatically and can be processed very quickly. This is what we what we inserted into the relationship between files. That's what we inserted in the provision of the data and so on. And this was a very strong point of the Parliament. I am glad that we found that the agreement.

SOUNDBITE (English), Ludek NIEDERMAYER (EPP, CZ), Rapporteur, The second, the more concrete point, we all know that a lot of illicit money are targeted into real estate and land market, and we found to settle it very gently that the European system is not up to level of 21st century, not sufficiently digital in some Member State. There is not a central point to which you can you can trace at the request. So that's why we didn't insist that the Member States will redo all the system, but at least must issue a single access point, and the data must be provided digitally.

SOUNDBITE (English), Ludek NIEDERMAYER (EPP, CZ), Rapporteur, The key point of the anti-money laundering effort is to be able to identify beneficial ownership. We know that the quality and extent of the information existing is not sufficient. That's why we call for many measures that would make sure that quality information are better, because this is really the central point. Who knows who is the beneficial owner of each asset? Among other things, the entity operating the registries should be allowed to make checks and to work with the information. We ringfenced that the information are not up to date or are not of the high quality.

SOUNDBITE (English), Ludek NIEDERMAYER (EPP, CZ), Rapporteur, Last not least, I want to mention that obviously the proper anti-money laundering creates kind of pressure on entities, create pressure on the customers. That's why we insist on keeping a clear limits for how long, for example, transaction can be suspended. And we also insist on the feedback from the national authorities to oblige entities about a data provision that can gradually improve the quality of overall the system. So I guess that this work is not over because the criminals are always find trying to ways. But I guess with this package we are making improvement. I'm glad to that I would say almost in the last minute we find a necessary agreement. Thank you. And I'm passing floor to our colleagues from the regulation.

SOUNDBITE (English), Eero HEINÄLUOMA (S&D, FI), Rapporteur, Thank you very much for the possibility to introduce you to some of the achievements in this new regulation. I have to say that this is really a good day for EU citizens and taxpayers and for businesses. And it's a bad day for oligarchs, money launderers, and terrorists. The package which we have now agreed, it will be a game changer, and it will profoundly have an effect to the ordinary business activities.

SOUNDBITE (English), Eero HEINÄLUOMA (S&D, FI), Rapporteur, The problem here is a really big one. It has been so for several years. We know from UN service that amount of money laundering is between perhaps 2.5% of GDP in Europe. It is said that it's over 2% of GDP, and for that time we know that only 1% is confiscated and and seen during the previous way of doing anti-money laundering practices. Now, it will change. And as my colleague here said, during the negotiation, I have to say that there was one big elephant in the room and that was the Russian oligarch. It was something, which we have to acknowledge and see that this is also a security question for all of us, as the people of European Union.

SOUNDBITE (English), Eero HEINÄLUOMA (S&D, FI), Rapporteur, Then, some achievements, especially from the Parliament side in this proposal. Now, the big thing is that this new AMLA regime will be applicable in the EU 27 member states, instead of 27 different regimes. And this is, of course, good for business, especially cross-border business people. It's good for the banking sector. Now we have the same rules in all the Member States. The scope of oblast entities was considerably extended to crypto asset service providers, all crowdfunding service providers, in addition to football clubs and traders of luxury goods. And that list was expanded due to the proposals from the Parliament. Level playing field extended to mayors of cities over 50,000 people.

SOUNDBITE (English), Eero HEINÄLUOMA (S&D, FI), Rapporteur, We got very good text on golden visas. Not only will these transactions for the whole European Union, but of course it's a possibility for the Member States to go even lower. High net worth customers will be for the first time subject to mandatory enhanced due diligence. Important thing to know what is happening in our banks and financial institutions.

SOUNDBITE (English), Eero HEINÄLUOMA (S&D, FI), Rapporteur, Then, for the identification of high risk third countries, we managed to keep the EU autonomous list and also ensured that the Commission transposes the path of least under the strict deadline. We also set up a regime to identify at EU level high risk third country entities, and so unblock to issue recommendations for obliged entities. Then, around the identification of beneficial ownership, an harmonised calculation regime will be applied in all over the European Union, and there will be a lower threshold applicable to high risk sectors.

SOUNDBITE (English), Eero HEINÄLUOMA (S&D, FI), Rapporteur, Information of entities based in third countries will have to be published in registers of the Member States where they want to do business, participate in public procurement, acquired luxury goods, or that they buy property, and then be managed to include sanctions compliance within the AMLA framework, making use of tools to prevent and detect sanctions. An important thing when we think what is happening now, especially in Ukraine and in Russia, and how the Russian money is still having an effect here in the European Union.

SOUNDBITE (English), Eero HEINÄLUOMA (S&D, FI), Rapporteur, And then it's important also that the text provides a framework for partnerships between the public and private sector, allowing for easier exchange of information to better trace criminal activity at the same time when safeguarding the interests of every European citizen. I would like to thank my fellow negotiating colleagues and especially my co-rapporteur, and to say from the heart that the Belgian presidency did very excellent work. They were really wonderful presidents in doing the work to make it sure that this deal was possible to do last evening.

SOUNDBITE (French), Damien CARÊME, (Greens/EFA, FR), Rapporteur, Let me also highlight some of the points of the regulation adopted yesterday. As my colleagues, I'm also very happy with the package that has now been adopted between the Parliament and Council. It's been decades that we've been tiptoeing around money laundering and terrorist financing, and now what we've seen is that we have a solid chain. Every link is solid, be it traffickers or what have you. There is no weak link in this piece of legislation. We stuck to our guns right to the end. The negotiations came to a good finish, but they were tough and intense over the last few months.

SOUNDBITE (French), Damien CARÊME, (Greens/EFA, FR), Rapporteur, Let me highlight a couple of points to show where the legislation will make the fight against money laundering more effective. First of all, legislation within the EU has now been harmonised and will have reinforced surveillance of people who are suspected of money laundering. Now, let me give you a couple of examples of where we've made improvement.

SOUNDBITE (French), Damien CARÊME, (Greens/EFA, FR), Rapporteur, So on harmonising rules between Member States. Well, the problem with fighting against money laundering and terrorist financing was that we have had a string of directives. There were basically a patchwork of anti-money laundering rules in place across the EU. So it was very difficult to coordinate if one Member State did their work less well in fighting money laundering than the whole of the EU suffered as a result. So we've done two things to improve them.

SOUNDBITE (French), Damien CARÊME, (Greens/EFA, FR), Rapporteur, Now I'm in the LIBE committee and I did want an improvement on the golden passports. Malta, Cyprus, but also in other countries, that defend these residents by investment schemes, which allow oligarchs to buy an EU passports through their investments in property. Now, yesterday we regulated these practices very strictly so that candidates to this system are checked properly. For example, the source of the funds that had to be invested is checked, and it's checked that individuals are not on sanctions lists issued by the EU.

SOUNDBITE (French), Damien CARÊME, (Greens/EFA, FR), Rapporteur, Now, Eero talked about third countries at risk. This is an important point in fighting money laundering. We need to have a single common definition as to which countries are a risk of money laundering for the EU. We've had a Commission list up until now, but it's been politicised and it hasn't been updated terribly quickly, certainly not in line with the FATF list, which is the reference in this matter. The we wanted the FATF list should also be transferred into the EU list in 20 days at the latest. So we've speeded things up.

SOUNDBITE (French), Damien CARÊME, (Greens/EFA, FR), Rapporteur, Now the EU also has its own blacklist of third countries. Risk at risk third countries. That is, that represents a risk to the EU financial system and they will be added to an alert list. The new authority and other supervisors will be able to highlight non-EU institutions so that we avoid cases like we had with Credit Suisse, for example.

SOUNDBITE (French), Damien CARÊME, (Greens/EFA, FR), Rapporteur, Now reinforced surveillance of at risk individuals. The Cyprus revelations a few weeks ago showed that the most powerful and richest people, including Russian oligarchs, had ways of laundering their money. Now this tolerance of what certain sectors and the richest people are doing on the grounds that it brings in a lot of money is intolerable. It represents an injustice to citizens who often don't get financial services because they're told that their risk of money laundering.

SOUNDBITE (French), Damien CARÊME, (Greens/EFA, FR), Rapporteur, We also wanted to include new provisions in the regulation, and our negotiations with the Member States are particularly difficult. So now those who earn the most will be monitored more closely by the banks to make sure that there's no tax evasion or money laundering going on. And those measures are justified because the amounts are extremely high. And some banks are more flexible with those customers because of the amounts involved. And we've seen that in the past.

SOUNDBITE (French), Damien CARÊME, (Greens/EFA, FR), Rapporteur, Now, money launderers have ways of laundering, ill gotten gains, and that's why football, crypto and luxury sectors have been included in this solid chain that we've now put in place. Now, it might seem crazy, but there was no anti-money laundering rule applied to football and now professional clubs will be within the scope. The press have shown examples recently. Roman Abramovich, for example, or the Dutch Football Federation, are examples that show that this sector is being used for money laundering.

SOUNDBITE (French), Damien CARÊME, (Greens/EFA, FR), Rapporteur, Jewellery, luxury goods, watches, art, everything over €10,000 will now be checked. Private jets, yachts, luxury cars these are the favourite toys of oligarchs, and vendors will have to submit their clients to anti-money laundering rules. So after decades of tiptoeing around this, we are now really putting something specific in place so that the EU can fight against money laundering. It's an ambitious step forward and ambitious regulation, and I think this is the beginning of the end for oligarchs, criminals and terrorists who have found the EU an easy place to launder their ill gotten gains. This is also a step towards reducing the injustices that our citizens see inflicted upon them to which we have a comprehensive.

Q&A, Questions about the effectiveness of the new rules and where the seat of ALMA, the new European authority for countering money laundering and financing of terrorism, will be placed.

SOUNDBITE (English), Eero HEINÄLUOMA (S&D, FI), Rapporteur, -

SOUNDBITE (English), Paul TANG, (S&D, NL), Rapporteur, -

Q&A, Questions about how the new rules will influence the EU's reputation and why football clubs are included within the scope of this regulation.

SOUNDBITE (English), Ludek NIEDERMAYER (EPP, CZ), Rapporteur, -

Q&A, Questions about the impacts on crypto assets and crypto service providers.

SOUNDBITE (French), Damien CARÊME, (Greens/EFA, FR), Rapporteur, -

Q&A, Questions about the impact on law firms and trust funds.

SOUNDBITE (English), Paul TANG, (S&D, NL), Rapporteur, - -