On Thursday 19 April, the MEPs approved the inter-institutional agreement on the fifth proposed anti-money laundering directive, which was presented in response to the Panama Papers scandal and the terrorist attacks that hit Europe (see EUROPE 11927, 11924).
“Thanks to this legislation, it will be possible to really show who pulls the strings behind the opaque arrangements of letterbox companies and trusts. Greater transparency will make it easier to identify and prevent criminal activity,...