EU adopts new rules to prevent terrorism financing

BRUSSELS, May 14 (KUNA) -- The EU General Affairs Council Monday adopted new rules to prevent money laundering and terrorist financing.
The new legislation sets out to close down criminal finance without hindering the normal functioning of payment systems, an EU Council statement said.
"These new rules respond to the need for increased security in Europe by further removing the means available to terrorists", said Vladislav Goranov, minister for finance of Bulgaria, whose country currently holds the EU presidency.
"They will enable us to disrupt criminal networks without compromising fundamental rights and economic freedoms," said Goranov.
The new rules address risks linked to prepaid cards and virtual currencies, cooperation between financial intelligence units and improved checks on transactions involving high-risk third countries. (end) nk.mt