Committees of the European Parliament announce Pandora report that includes AML/CFT topics

In a press release of 21 March it was announced that two committees of the European Parliament adopted a report with a comprehensive set of recommendations stemming from the lessons learnt from the Pandora Papers. According to the press release the report is not only on tax.

It also makes recommendations on improving reporting and information sharing, particularly on beneficial ownership, better addressing practices that can harm tax collection such as through the use of crypto-assets, golden passports or certain real estate transactions. The MEPs ask the Commission to consider an EU version of the UK’s system to investigate unexplained wealth.

The final version of the report is not yet made public.

Draft report
The draft is to be found on this meeting page, under ‘Lessons learnt from the Pandora Papers and other revelations’. The draft is completely unclear about the number of European citizens involved in the Pandora Papers and whether the number of Europeans involved justifies the proposed measures.

The report shows an interest in ‘high-net-worth individuals’, suggesting all these people have criminal practices (something that can also be seen in in the amendments to the AML Package that is on the agenda Tuesday, where all high-net-worth individuals are supposed to be a high risk on AML/CFT).


Addition 12 April 2023
Still no final report has been published.

Over Ellen Timmer

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