6 Amendments of Markus FERBER related to 2016/0208(COD)
Amendment 59 #
Proposal for a directive
Recital 6
Recital 6
(6) Providers of exchange services between virtual currencies and fiat currencies (that is to say currencies declared to be legal tender) as well as custodian wallet providers for virtual currencies are under no obligation to identify suspicious activity. Terrorist groups are thus able to transfer money into the Union's financial system or within virtual currency networks by concealing transfers or by benefiting from a certain degree of anonymity on those platforms. It is therefore essential to extend the scope of Directive (EU) 2015/849 so as to include virtual currency exchange platforms and custodian wallet providers, albeit without including in the directive virtual currencies from customer loyalty programmes, such as air miles. Competent authorities should be able to monitor the use of virtual currencies. This would provide a balanced and proportional approach, safeguarding technical advances and the high degree of transparency attained in the field of alternative finance and social entrepreneurship.
Amendment 65 #
Proposal for a directive
Recital 9
Recital 9
(9) When dealing with natural persons or legal entities established in high-risk third countries, Member States must require obliged entities to apply enhanced customer due diligence measures to manage and mitigate risks. Each Member State therefore determines at national level the type of enhanced due diligence measures to be taken towards high-risk third countries. Those different approaches between Member States create weak spots on the management of business relationships involving high risk third countries identified by the Commission. Those gaps can be exploited by terrorists to channel funds in and out the Union financial system. It is important to improve the effectiveness of the list of high-risk third countries established by the Commission by providing for a harmonised treatment of those countries at Union level. This harmonised approach should primarily focus on enhanced customer due diligence measures. Nevertheless, Member States and obliged entities should be allowed to apply additional mitigating measures in addition to enhanced customer due diligence measures, in accordance with international obligations. International organisations and standard setters with competence in the field of preventing money laundering and combating terrorist financing may call to apply appropriate counters measures to protect the international financial system from the on- going and substantial money laundering and terrorist financing risks emanating from countries. Member States should enact and apply additional mitigating measures regarding high risk third countries identified by the Commission by taking into account calls for countermeasures such as those expressed by the Financial Action Task Force (FATF) and responsibilities resulting from international agreements.
Amendment 221 #
Proposal for a directive
Article 1 – paragraph 1 – point 5
Article 1 – paragraph 1 – point 5
Directive 2015/849/EU
Article 14 – paragraph 5
Article 14 – paragraph 5
5. Member States shall require that obliged entities apply the customer due diligence measures not only to all new customers but also at appropriate times to existing customers on a risk-sensitive basis, or when the relevant circumstances of a customer change, or when the obliged entity has a duty in the course of the relevant calendar year, to contact the customer for the purpose of reviewing any information related to the beneficial owner(s), in particular under Directive 2011/16/EU.; (With regard to proportionality, low-risk business models should be handled differently toMember States shall require that obliged entities contact the customer for the purpose of reviewing any information related to the beneficial owner(s) no later than [one year after the date of the entry into force of this amending Directive]. This does not apply in low-risk cases. Or. de those of normal or high risk. Therefore only low-risk cases should not be monitored.)
Amendment 226 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2015/849/EU
Article 18 a – paragraph 1 – introductory part
Article 18 a – paragraph 1 – introductory part
1. With respect to transactions involving high risk third countries, Member States shall require that, when dealing with natural persons who are resident or legal entities established in the third countries identified as high-risk third countries pursuant to Article 9 (2), obliged entities shall apply at least all the following enhanced customer due diligence measures:
Amendment 233 #
Proposal for a directive
Article 1 – paragraph 1 – point 7
Article 1 – paragraph 1 – point 7
Directive 2015/849/EU
Article 18 a – paragraph 1 – point g
Article 18 a – paragraph 1 – point g
Amendment 467 #
Proposal for a directive
Article 3 – paragraph 1 – subparagraph 1
Article 3 – paragraph 1 – subparagraph 1
Member States shall bring into force the laws, regulations and administrative provisions necessary to comply with this Directive by 1 January 20178 at the latest. They shall forthwith communicate to the Commission the text of those provisions.