MEMO/12/113

Brussels, 16 February 2012

Commissioner Michel Barnier welcomes the adoption of revised international standards in support of the fight against Money Laundering and Terrorist Financing

"I welcome the adoption of new standards by the Financial Action Task Force (FATF) aimed at strengthening global safeguards and protecting the integrity of the financial system against money laundering and terrorist financing.

These recommendations pave the way for a stronger fight against money laundering and terrorist financing at EU level.

The Commission is committed to maintain effective systems to prevent the financial system from being abused by criminals and terrorists. It will now take appropriate steps to ensure that these revised standards are rapidly incorporated into our own European framework".