The Council of the European Union adopted a directive strengthening EU rules to prevent money laundering and terrorist financing. This is the follow-up work of the political agreement reached last December by the Presidency and the European Parliament.
The need to adapt to new threats and to amend Directive (EU) 2015/849 accordingly after a spate of terrorist attacks in Europe were underscored by the Commission Action Plan for strengthening the fight against terrorist financing. Amending the directive 2015/849, the directive includes some new rules further removing the means available to terrorists. "These new rules enable us to disrupt criminal networks without compromising fundamental rights and economic freedoms," said Vladislav Goranov, Minister for Finance of Bulgaria, which currently holds the Council presidency.
By amending Directive 2015/849, the revised transparency rules are expected to shed light on the large-scale concealment of funds without hindering the normal functioning of financial markets and payment systems. Main revamps to the Directive includes:
With the fast growth of China’s economy and the continuous improvement of the comprehensive strength of domestic enterprises, as well as the implementation of the “One Belt, One Road” policy, an increasing amount of Chinese enterprises are beginning to expand their global footprint and establish their presence in Europe.
TPA Global has developed a practical roadmap of 6 steps meant to guide CFOs in their Journey of rising above troubles to reach a situation of full control. These steps are presented in a series of short video clips (3-5 minutes):