AML: OECD recommendations

In a recent CFE newsletter I found the following article:

OECD recommends that tax authorities should have access to AML transactions reports

On 16/17 September 2015, the OECD held its 4th Forum on Tax and Crime and afterwards released its report titled “Improving Co-operation between Tax and Anti-Money Laundering Authorities: Access by tax administrations to information held by financial intelligence units for criminal and civil purposes”. The reports analyses the levels of co-operation between the authorities in one state combatting serious financial crimes and assesses various models for the sharing of suspicious transaction reports. The OECD recommends that tax administration should have the fullest possible access to these reports, to fight illicit financial flows, notably tax evasion, money laundering, bribery and corruption.

“Financial intelligence units” are the bodies to which, according to EU Anti Money Laundering Directive and the FATF Guidelines, suspicious transactions should be reported.

According to the recently adopted 4th EU Anti Money Laundering Directive, member states have to exempt tax advisers from a reporting obligation in the course of ascertaining a client´s legal position or defending or representing him/her in or concerning judicial proceedings.

– Report: EN
– Press release: EN

4th OECD Forum on Tax and Crime
– Meeting webpage: EN
– Statement of outcomes: EN
– Agenda: EN

Over Ellen Timmer, advocaat ondernemingsrecht @Pellicaan

Verbonden aan Pellicaan Advocaten, http://www.pellicaan.nl/, kantoor Capelle aan den IJssel (Rotterdam), telefoon 088-6272287, fax 088-6272280, e-mail ellen.timmer@pellicaan.nl ||| Weblogs: algemeen: https://ellentimmer.wordpress.com/ ||| modernisering ondernemingsrecht: http://flexbv.wordpress.com/
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