By / January 18, 2019

Use of financial data for preventing and combatting serious crime [EU Legislation in Progress]

On 17 April 2018, the European Commission adopted a proposal for a directive intended to facilitate law enforcement authorities’ access to and use of financial information held in other jurisdictions within the EU for investigations related to terrorism and other serious crime.

© Andrey Popov / Fotolia

Written by Carmen-Cristina Cirlig (2nd edition, updated on 19.7.2019),

Businessman Analyzing Financial Report With Magnifying Glass
© Andrey Popov / Fotolia

On 17 April 2018, the European Commission adopted a proposal for a directive intended to facilitate law enforcement authorities’ access to and use of financial information held in other jurisdictions within the EU for investigations related to terrorism and other serious crime. The proposed directive would grant competent authorities direct access to bank account information contained in centralised registries set up in each Member State, according to the Fifth Anti-Money-Laundering Directive. The proposal also aims to strengthen domestic and cross-border exchange of information between EU Member States’ competent authorities, including law enforcement authorities and financial intelligence units, as well as with Europol. The provisional agreement reached in February 2019 in interinstitutional negotiations was adopted by the European Parliament on 17 April 2019, followed by the Council on 14 June. On 20 June 2019, the directive was signed into law and then published in the Official Journal on 11 July. Member States have until 1 August 2021 to transpose its provisions into national law.

Versions

Proposal for a directive of the European Parliament and of the Council laying down rules facilitating the use of financial and other information for the prevention, detection, investigation or prosecution of certain criminal offences and repealing Council Decision 2000/642/JHA
Committee responsible: Civil Liberties, Justice and Home Affairs (LIBE) COM(2018) 213 final of 17.4.2018
Rapporteur: Emil Radev (EPP, Bulgaria) 2018/0212(COD)
Shadow rapporteurs: Caterina Chinnici (S&D, Italy)
Helga Stevens (ECR, Belgium)
Morten Helveg Petersen (ALDE, Denmark)
Kostas Chrysogonos (GUE/NGL, Greece)
Eva Joly (Greens/EFA, France)
Ignazio Corrao (EFDD, Italy)
Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’)
Procedure completed. Directive (EU) 2019/1153
OJ L 186, 11.7.2019, pp. 122–137.

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