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City of London: The commission estimates the EU economy loses at least €120 billion every year, most of through money laundering (Photo: avail)

MEPs vote to abolish secret company ownership

A European Parliament vote on Thursday (20 February) to set up public registers to identify company owners has been hailed as ground-breaking by pro-transparency groups.

MEPs in the civil liberties and economic committees backed the European Commission’s anti-money laundering directive but then added a public register provision to help crack open shell companies and trusts.

“We are enlarging the whole anti-money laundering directive from crime fighting to tax evasion and I think t...

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Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

City of London: The commission estimates the EU economy loses at least €120 billion every year, most of through money laundering (Photo: avail)

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Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

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