European Commission closes in on terrorism

Professional Adviser
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The European Commission has proposed that banks be forced to register the details of everyone making...

The European Commission has proposed that banks be forced to register the details of everyone making money transfers in the EU as a measure to curtail funding for terrorism. According to Darren Fox, financial services partner at Simmons & Simmons, it lacks bite because: "It does not impose any form of identification requirement in relation to subsequent transactions through those accounts."

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