During the plenary session (8-10 July) in the European Parliament in Brussels, MEPs debate on preventing money laundering and terrorist financing. EU is putting in place a comprehensive Union policy. Extracts from the statements by Michael ROTH, German Presidency, Valdis DOMBROVSKIS, Executive Vice-President of the EC in charge of an Economy that works for People, David CASA (EPP, MT), Eero HEINÄLUOMA (S&D, FI), Luis GARICANO (RE, ES), and Paul TANG (S&D, NL).

A comprehensive Union policy on preventing money laundering and terrorist financing: extracts from the debate

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Title: A comprehensive Union policy on preventing money laundering and terrorist financing: extracts from the debate

SOUNDBITE (German), Michael ROTH, German Presidency, I have received the impression also are preparing this agenda point that you members of the Parliament, the Commission and the Council are all aware of how urgent it is to get on with this. I want to see political ambition from all of us so that we can deal with this issue of money laundering in the European Union. We need to be more effective than we have been in the past.

SOUNDBITE (English), Valdis DOMBROVSKIS, Executive Vice-President of the EC in charge of an Economy that works for People, EML rules must be effective. That is why the Commission proposed in May to issue Country-Specific Recommendations to 11 member states in this area. The European Banking Authority now has additional powers and I expect them to use them in full. In terms of the next steps, I would like an EU EML supervisory body to conduct systematic On-Site cheques in member states. We need to build-up our preventive capacities.

SOUNDBITE (English), Valdis DOMBROVSKIS, Executive Vice-President of the EC in charge of an Economy that works for People, Cases of online money laundering are on the rise. Authorities in all member states should help the powers to freeze suspicious transactions of this kind. However, we are also aware that the way rules are currently implemented is not optimal for legitimate businesses. Clearer and risk-based rules will avoid companies facing unexpected consequences due to the divergences in the way rules are applied. Our rules should not make life harder for honest operators.

SOUNDBITE (English), Valdis DOMBROVSKIS, Executive Vice-President of the EC in charge of an Economy that works for People, Dirty money is highly mobile. If it is dealt with in one member state, it moved to another one with weaker supervision and enforcement. Dirty money should help nowhere to hide.

SOUNDBITE (Maltese), David CASA (EPP, MT), MEP 6 - 9th parliamentary terms, We need to be stronger in our fight against all of this. It's not enough to have laws in writing on money laundering. These laws need to be enforced. Many times criminal gangs are allowed to go on with their work despite clear proof of money laundering. Nexia BT and other accounting companies are let to live in a parallel world without any laws against them

SOUNDBITE (Finnish), Eero HEIN&#196;LUOMA (S&amp;D, FI), MEP 9th parliamentary term, When we talk about money laundering, we're talking about vast sums of money. Almost one per cent of the GDP involved in such illicit trade and only a percentage of that can actually be recovered. Action is called for. We are in favour. The day for directive has come and gone. We need actual legislation with teeth. Furthermore, we support that we have a supervisory authority at European level. We need a European actor that can ensure that money laundering is combated everywhere.

SOUNDBITE (Spanish), Luis GARICANO (RE, ES), MEP 9th parliamentary term, Criminals get 160 billion euros a year out of this one per cent of EU GDP and we as taxpayers lose 850 million a year of taxes, they're unpaid. And another 850 million in tax fraud. Apparently, 99 per cent of criminals' money is not confiscated and remains in their hands. We need to deal with this problem if we want to build a fairer society. Recent scandals such as Luanda leaks and the murder of Daphne Caruana Galizia shows that the authorities aren't doing enough and Europe is not taking the lead in this field either.

SOUNDBITE (English), Paul TANG (S&amp;D, NL), MEP 8 - 9th parliamentary terms, 1,4 trillion euros. That's one of the last estimates of money laundering and it's mind-boggling. It's staggering. And it's a bloody shame. This is money stolen illegally gains and it's taken from governments and people that needed the most. Money that can be laundered and it can be spent thanks to our financial secrecy, thanks to OPEC firms and funds of which the owners are unknown. We need to shine a light on them to bring them to justice. We need registries of ultimate beneficial ownership. And it's a shame that not all member states have implemented the last directive. And at one member state have failed to create a registry. And the result? That the ultimate source of 96 billion euros of Russian investments in the Netherlands is still unknown.

Date de l'événement	08/07/2020
Référence:	I193053V
Format:	16:9 format
Copyright:	© European Union
copyrightYear:	2020

A comprehensive Union policy on preventing money laundering and terrorist financing: extracts from the debate

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