2 Amendments of Bill NEWTON DUNN related to 2013/0024(COD)
Amendment 11 #
Proposal for a regulation
Recital 6
Recital 6
(6) The full traceability of transfers of funds can be a particularly important and valuable tool in the prevention, investigation and detection of money laundering or terrorist financing. It is therefore appropriate, in order to ensure the transmission of information throughout the payment chain, to provide for a system imposing the obligation on payment service providers to have transfers of funds accompanied by information on the payer and the payee. This system should also ensure the inclusion of payment service providers situated in developing countries whose financial systems are often abused for these illegal purposes.
Amendment 14 #
Proposal for a regulation
Recital 12 a (new)
Recital 12 a (new)
(12 a) The authorities responsible for combating money laundering or terrorist financing in the Member States should enhance cooperation with each other and the relevant authorities of non-Member States, including developing countries, in order to further strengthen the sharing of information and best practices.