EU Proposes Updated Money-Laundering Rules - Corruption Currents - WSJ


Activists and industry participants welcomed new proposed anti-money laundering rules in the European Commission, set to be unveiled Tuesday, that would bring the European Union closer to recommendations from an international body.

Among the proposed changes, according to the draft legislation seen by the Wall Street Journal, would be to mandate online-gambling sites to keep the details of individuals betting more than EUR2,000. It would force subsidiaries operating in the EU to observe host-country rules, meaning that non-European companies and banks would have to stick to the new regulations, the Journal report said.