MEPs ask European Banking Authority to investigate 'Luanda Leaks'

Parliamentarians also urge national authorities to initiate investigations into the revelations of the 'Luanda Leaks' case and to take action against stakeholders who violate the rules on the fight against money laundering.

The European Parliament (EP) called on the European Banking Authority (EBA) to conduct an inquiry into the revelations of the 'Luanda Leaks' case, in particular to “assess whether violations of national or European Union (EU) legislation have taken place the measures taken by financial supervisors ”.

In the official note, MEPs call for an investigation into the case of Isabel dos Santos, in particular to "assess whether violations of national or EU legislation have taken place and to analyze the measures taken by financial supervisors".

According to a statement released this Friday, the scandals such as' Panama Papers', 'Lux Leaks' and' Paradise Papers' are at stake, which, in the eyes of the EP, “have“ repeatedly shaken citizens' confidence in our financial and tax systems ”. In this way, the assembly calls for measures to be taken to restore public confidence, ensure the existence of equitable and fair taxation regimes and guarantee fiscal justice.

MEPs argue that the revelations made in recent years “show the need for the EU to continue to prioritize the fight against money laundering and update its legislative framework” in this regard, defends the EP in a resolution adopted this afternoon with 534 votes in favor, 25 against and 122 abstentions.

Parliamentarians also urge national authorities to initiate or continue investigations into the revelations of the 'Luanda Leaks' case and to bring actions against interested parties that violate the rules on the fight against money laundering. In addition, they request that the European Central Bank (ECB) be empowered to withdraw licenses from any banks operating in the euro area that violate obligations in the fight against money laundering, “regardless of the assessment of the responsible national authorities”.

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