European Union countries will support the implementation of the revised Financial Action Task Force (FATF) standards on beneficial ownership transparency, according to the EU mandate for the G20 Finance Ministers and Central Bank Governors meeting dated Monday 3 April.
This meeting will be held on Wednesday 12 and Thursday 13 April in Washington. According to the EU Council’s position paper for participating delegations, obtained by EUROPE, the EU wishes to “lead by example in the fight against money laundering and terrorist financing”.
The Europeans want to “ensure efficient and fast international cooperation so that beneficial ownership information is shared among competent authorities to prevent cross-border misuse of legal persons and arrangements”.
The document states that the EU also wants to support the financial inclusion of vulnerable and underserved individuals and SMEs, including through digital means.
Finally, Europeans welcome the adoption by the FATF Plenary at the OECD in February 2023 of the Global Roadmap to accelerate compliance regarding virtual assets.
To consult the document: https://aeur.eu/f/67t (Original version in French by Anne Damiani)