UKIP vote for more EU red tape on international money transfers

UKIP have voted to give the European Commission unlimited power over the implementation of laws governing money laundering across Europe. Had UKIP had their way, the European Parliament would have lost the right to review measures being brought forward in the fight against the financing of terrorism. However, Conservatives secured amendments which will ensure that democratically elected politicians will have a role in scrutinising such measures, ensuring that proportionality is kept so that laws affecting ordinary people going about their legitimate business can be properly debated.

In voting against the Money Laundering Directive, UKIP conceded the EU Commission’s sole right to implementing money laundering measures as it sees fit.

Sir Robert Atkins MEP, Conservative Deputy Leader in the European Parliament, said:

“In its attempt to defend British sovereignty, UKIP today voted to give it away entirely to the European Commission. Conservatives want the European Parliament to be able to scrutinise the Commission to check if its decisions are proportionate in the fight against international money laundering for terrorist purposes. MEPs would have to justify to the public any measures which caused problems to individuals involved in transferring money abroad.”

Measures such as having to produce two types of ID at a local bank - one of which has to be photographic and another proving your address - in order to transfer relatively small amounts of money abroad does not, in the view of the Conservatives, constitute international money laundering.

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