NordenBladet — The European Commission issued a proposal for amending the Directive on access to financial information on 20 July. The amendment would allow the competent authorities of the EU Member States to access centralised bank account registries. The Government expressed its position on the proposal in its communications submitted to Parliament on 28 October.The amendment to the Directive on access to financial information relates to the Commission’s proposal for a new Anti-Money Laundering Directive. According to the proposal, Member States must ensure that the information obtained from the centralised bank account registries is available through a single access point. The single access point would be developed and operated by the European Commission. The access point would allow the competent authorities to establish quickly whether an individual holds bank accounts in other Member States without having to ask all their counterparts in all Member States. Financing of cross-border crime could be investigated more effectivelyThe Government welcomes the proposal in principle. The proposal strengthens the fight against international organised crime by creating a tool for the competent authorities of the Member States to investigate and intervene more effectively in the financing of crime in cross-border cases. In these cases, it is important to find out who holds a bank account in a Member State other than that carrying out the investigation.Parliament discusses national implementation of the DirectiveThe current Directive on access to financial information already requires that each Member State designate the competent authorities empowered to access and search its national centralised bank account registry. Under the Directive, access may be granted to authorities competent for the prevention, detection, investigation and prosecution of serious offences.
Source: Valtioneuvosto.fi