Anti-money laundering rules will stop crime and help honest businesses

Addressing the Plenary Session of the European Parliament in Brussels, Member of the European Parliament David Casa insisted on the need for urgent anti-money laundering rules which are not only adopted, but also implemented in all the European Union’s Member States.

“An EU regulation combating money laundering not only prevents criminals from exploiting weaknesses or loopholes, but it also facilitates the operations of honest businesses, especially those who are present in more than one EU Member State,” Casa said.

Making reference to the situation in Malta, Casa explained why journalist Daphne Caruana Galizia was murdered because the Maltese institutions did not do their duty. “When our supervisory institutions fail to investigate cases of corruption and money laundering, it falls on investigative journalists to expose these crimes,” he said.

In his speech, Parliament’s Quaestor Chairperson David Casa insisted that anti-money laundering rules should not be left on paper, but they must be enforced. “Laws are not worth the paper they are printed on unless they are enforced. Enough with criminal banks continuing to operate, despite overwhelming evidence of their facilitating money laundering. Enough with accounting firms, such as Nexia BT, that continue to operate in a parallel universe where laws do not apply to them.”

David Casa is the EPP Group’s Spokesperson on anti-money laundering in the Committee for Economic and Monetary Affairs. He led yesterday’s evening debate on behalf of the EPP Group. “We must rise to the occasion, and ensure no person is ever left standing alone between criminals and their ill-gotten gains,” he concluded.