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EU finance ministers call for GDPR clarity as they back greater info-sharing to tackle money laundering

EU finance ministers are calling for clarity on data protection rules as they seek to harmonise anti money laundering regulations across Europe.

The European Union’s ECOFIN council yesterday backed plans to establish a single rule-book and centralised supervision of anti-money laundering and terrorist financing.

As part of the reform plan, ministers want the European Commission to “consider the expansion of information-sharing possibilities within groups of companies as well as between other obliged entities not belonging to the same group or the same sector, so as to allow better monitoring and compliance.”

Source: EU finance ministers call for GDPR clarity as they back greater info-sharing to tackle money laundering

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