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EP approves new measures to fight terrorist financing

BRUSSELS, Sept 12 (KUNA) -- The European Parliament (EP) approved on Wednesday new rules to combat terrorist financing, by preventing money laundering and tightening cash flow checks.
The two laws will make it harder for terrorists and criminals to finance their activities, by closing the loopholes in the current money laundering rules and by making it easier for the authorities to detect and stop suspicious financial flows, noted an EP press release.
The new rules to prevent money laundering introduce include EU-wide definitions of money laundering-related crimes, EU-wide minimum penalties, such as a minimum of four years of imprisonment for money laundering, and new additional sanctions, such as barring those convicted of money laundering from running for public office, holding a position of public servant and excluding them from access to public funding.
The new rules on the criminalisation of money laundering were approved by 634 votes to 46. (end) nk.mb