The Council set out its priorities as efforts are strengthened to prevent the financing of terrorism.
This follows publication by the Commission of an action plan to overcome current challenges, and in response to recent terrorist attacks. The plan builds on existing EU rules and practices, adapting them to new threats and in line with international standards.
"We committed to proceeding swiftly with implementation of a number of measures set out in the action plan", said Jeroen Dijsselbloem, minister for finance of the Netherlands and president of the Council. "We agreed to some steps that go beyond the action plan, such as accelerated implementation of the money laundering directive and further improving cooperation between national authorities responsible for clamping down on terrorist financing."
In its conclusions, the Council specifies in detail a number of initiatives to be taken, setting deadlines for action. These include:
- the field of virtual currencies;
- strengthening access to information by financial intelligence units (FIUs), such as bank and payment account information;
- appropriate measures on prepaid payment instruments:
- measures against illicit cash movements.