Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-07-03-Speech-1-109"
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"en.20060703.16.1-109"2
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"Mr President, the proposed regulation is yet another piece of legislation which harms, that is to say limits, fundamental rights. The previous regulations dealt with population records, the introduction of microchips and so on. This measure aims to limit financial freedom. It continues the measures started in 1978 by OLAF (then called UKLAF) to combat large-scale tax fraud that damaged Community finances, a practice closely linked to organised crime.
How is the proposed regulation supposed to prevent money laundering and the funding of terrorism? By monitoring the billions of transactions our citizens make and storing them for a five-year period? I am sure it cannot do that! It is good that both the rapporteur and those bodies providing their opinions, namely the Committee on Economic and Monetary Affairs, the European Economic and Social Committee and the European Central Bank, have pointed out the serious flaws in the proposed regulation. To conclude, let us read it over once again and avoid creating a regulation that benefits the financial and secret services. Let us hope that we can avoid becoming their collaborators or victims in the future, something that is happening in Poland today."@en1
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