Local view for "http://purl.org/linkedpolitics/eu/plenary/2015-05-20-Speech-3-259-500"
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"en.20150520.26.3-259-500"2
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"Along with the report concerning ‘information accompanying transfers of funds’, this legislation is vital in the fight against terrorism and transnational crime. Crime networks spanning Europe and across the globe benefit from authorities lack of co-operation and profit from being able to exploit the opportunities provided by borders to carry out their illicit activities and evade capture. By working to tackle this at a European level, Member States of the EU will be able to implement a coordinated approach that will help to remove such opportunities, and is a good example of where the European Union is able to offer value added in the fight against crime. It is estimated that money laundering costs the global economy nearly GBP 1 trillion per year and provides the capital to fund human-trafficking, terrorism and corruption. I am also pleased that this legislation finds the right balance between targeting criminals whilst allowing legitimate businesses and individuals to conduct their affairs without unnecessary impediment – the legislation will work on the basis of risk-assessments, only targeting transactions that appear suspicious. As the EU works towards a commitment of ‘better regulation’, this is a good example and I am pleased to have voted in favour."@en1
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