Intelligence

HOW WELL DOES THE EU’S ANTI-MONEY LAUNDERING DIRECTIVE WORK IN PRACTICE?

Reporter: Neil Hodge

Publication: Compliance Week

Contact: iq@fullyvested.com

Deadline: Mar 27, 2017 9:00 am

I’m writing an article that will look at how effectively the EU’s Anti-Money Laundering Directive works in practice, compared to similar rules used in other jurisdictions (US, Japan, Australia, etc.) – what are the key strengths and weaknesses? The article will also discuss the recent amendments approved by the European Parliament to the EU Anti-Money Laundering Directive so that EU citizens can get access to the registers of beneficial owners of comapnies without having to demonstrate a “legitimate interest”, while trusts would also need to meet the same kind of transparency requirements as firms. We will discuss why this is deemed to be an important issue, and what the ramifications of the changes will mean. The press release is here: http://www.europarl.europa.eu/news/en/news room/20170227IPR64164/citizens-should-get-access-to-data-on-firm-owners-to-fight-money-laundering I am looking for interviews/written comment from academics, lawyers, tax experts (Big Four firms etc.), business lobby groups etc. about: – how well the EU’s AML Directive works in practice, and how it compares in effectiveness to the US and other jurisdictions; – what impact the latest set of amendments (wider access to registers of beneficial owners of companies; expanding the directive to include trusts etc.) will make to the EU AML Directive.