New directive to support fight against legalization of revenues from criminal activity
European Parliament adopted as of May 2015 a new Directive (EU) 2015/849 of the European Parliament and of the Council on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. The aim is to increase transparency of ownership structures of legal persons and trust funds. The most important changes are the establishment of central register of final owners of legal persons and trust funds, tightened control of politically exposed persons and unification of penalties at community level. The entrepreneurs can receive a cash payment in the maximum amount of 10 000 euro compared to former 15 000 euro. Using tax revenues from tax criminal activity will be considered as money laundry.