The Blog welcomes a contribution from Olivier Salles, Head of Unit, and Pierre-Yves Esclapez, Administrator, at the European Commission (Directorate General for Financial Stability, Financial Services and Capital Markets Union). In this Blog, they share the thoughts that guided the European Commission’s Action Plan to strengthen the fight against terrorist financing.
This Action Plan was released in February 2016, in the wake of the Paris terrorist attacks. It will feed a legislative proposal that the Commission will put forward in the course of the second quarter 2016, to amend the fourth Anti-Money Laundering Directive.
In this Blog, Olivier Salles and Pierre-Yves Esclapez raise the challenges that the new legislation against terrorist financing will need to address, such as issues related to prepaid instruments and virtual currencies.
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