Local view for "http://purl.org/linkedpolitics/eu/plenary/2005-05-25-Speech-3-147"
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"en.20050525.16.3-147"2
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"I should first like to commend Mr Nassauer on his excellent report, which received the backing of the Group of the European People’s Party (Christian Democrats) and European Democrats. The Union, the Member States and the citizens must be protected by stepping up the fight against money laundering. The perpetrators of this crime must not be allowed to take advantage of the free movement of capital and the free provision of financial services.
We must also address the issue of terrorist financing. We are aware that these are two different crimes. Money laundering is the concealment of the proceeds of criminal activity and lies at the heart of organised crime. If we succeed in combating it, we will substantially weaken international organised crime networks. Terrorist financing can also involve the use of goods acquired legally to finance terrorism; in other words, it does not necessarily follow that a crime has been committed but the act of financing, in and of itself, constitutes a crime.
A further objective is to widen the scope of the directive to cover other categories of profession, whilst ensuring that measures remain proportionate. I welcome the fact that the compromise reached in the second directive, preserving the relationship of trust between lawyers and clients, has been retained. The principle of confidentiality between lawyer and client is fundamental to an effective legal defence.
I should therefore like to raise three key issues: firstly, coordination and cooperation between financial intelligence units, which must be provided with adequate resources to carry out their work; secondly, those Member States that have yet to transpose the second directive on money laundering must do so at the earliest opportunity; thirdly and lastly, current legislation on money laundering must, as a matter of urgency, be assessed to monitor its relevance and its practical impact."@en1
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