Compliance news

Money laundering: EU to introduce due diligence checks for golden visas

The European Commission is reportedly set to publish guidance for member states on how to manage ‘golden visas’ – resident permits that can be purchased by wealthy foreigners – amid growing concerns that they are being used by rich criminals to live and move around Europe easily, and that they also pose a high risk of money laundering.

The EC guidance is expected to include ‘necessary background checks’ for applicants across the bloc, as opposed to different requirements laid out by national laws.

Full article at: kyc 360



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