NEW rules to make it harder for tax dodgers, criminals and terrorists to hide money have been moved forward by Euro-MPs.
The measures will make it clearer who benefits from companies and makes it easier to track transferred funds. They have been agreed by the relevant parliament committees and will now go to the full parliament and the Council of Ministers.
Yorkshire MEP Timothy Kirkhope, who led some of the work on the new rules, said: “This agreement strikes a good balance by shining a light into dark areas where launderers operate, without invading into very private matters or tying businesses up in red tape.
“Technology has moved on since the last money laundering directive and so the law has become burdensome to many businesses yet does not tackle modern money laundering practices.”