http://euobserver.com/?sid=9 <http://euobserver.com/?sid=9&aid=19642> &aid=19642
New EU bank rules to cut off terror funds 26.07.2005 - 09:52 CET | By Lucia Kubosova The European Commission is set to table a proposal that will require banks to register the name, address and account number of all those making money transfers in the EU, according to the Financial Times. The move - to be announced on Tuesday (26 July) - is aimed at cutting off terrorist financing. The new rules will apply to transfers of even the smallest amounts between the EU and abroad, while a simpler version will be used for financial operations within the bloc. If the money senders - individuals or institutions - refuse to provide the required data, banks will be obliged to reject such transfers, or end existing links with these customers. The financial institutions will then be asked to pass on the information obtained through the new regulation to law enforcement authorities to assist in cases of prevention, detection or prosecution of money launderers and terrorist financiers, reports the FT. London and Paris in joint action Britain - currently at the helm of the EU's six-month rotating presidency - pressed for concrete steps to cut off the terrorist funds following the London attacks on 7 July, which killed 56 people. The idea has been on a list of the union's anti-terror measures adopted after the Madrid attacks in March 2004, but has fallen short of becoming a reality as have most other tasks within the action plan. EU interior ministers agreed on a revised schedule earlier this month and the European Commission has warned it will come up with a "name and shame" list of member states that have not implemented the measures agreed in Brussels. Meanwhile, individual countries are also launching joint actions to fight terrorism. French prime minister Domonique de Villepin and his British counterpart Tony Blair agreed yesterday (25 July) on a number of common initiatives to fight the terror threat. To prevent new attacks, the authorities in both countries will exchange the names of persons who have been trying to promote extreme ideas, as well as information about how to protect vulnerable targets. Paris and London are also keen to push forward legislation to retain communications data from telephone calls and e-mails for longer - before it gets the final go-ahead at the European level. And finally, they want to work together to prevent and take measures against the "radicalisation" of their Muslim communities - making up around three percent of the population in the UK, and eight percent in France. [Non-text portions of this message have been removed] -------------------------- Want to discuss this topic? Head on over to our discussion list, [EMAIL PROTECTED] -------------------------- Brooks Isoldi, editor [EMAIL PROTECTED] http://www.intellnet.org Post message: osint@yahoogroups.com Subscribe: [EMAIL PROTECTED] Unsubscribe: [EMAIL PROTECTED] *** FAIR USE NOTICE. This message contains copyrighted material whose use has not been specifically authorized by the copyright owner. OSINT, as a part of The Intelligence Network, is making it available without profit to OSINT YahooGroups members who have expressed a prior interest in receiving the included information in their efforts to advance the understanding of intelligence and law enforcement organizations, their activities, methods, techniques, human rights, civil liberties, social justice and other intelligence related issues, for non-profit research and educational purposes only. We believe that this constitutes a 'fair use' of the copyrighted material as provided for in section 107 of the U.S. Copyright Law. If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/osint/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
