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Sunday, June 1, 2014
Volume:
30
Issue:
6
Abstract:
On March 1, 2014, the European Parliament (EP) by a vote of 643-30 with 12 abstentions voted to approve new anti-money laundering legislation, requiring each of the 28 European Union Member States to, inter alia, establish a public register that lists the owners of shell companies and trusts as a way to reduce tax evasion and illegal money laundering.[1]