Today the European Parliament and the Council reached a political agreement on the Commission’s proposal to facilitate cross-border access to financial information by law enforcement authorities.

A political priority for 2018-2019, the new measures will allow police to quickly access crucial financial information for criminal investigations, boosting the EU’s response to terrorism and other serious crime.

Welcoming the agreement, Commissioner for Migration, Home Affairs and Citizenship Dimitris Avramopoulos said: “If you want to catch criminals and terrorists, you need to be able to follow their money. The new rules agreed today will ensure swift access to financial information and smoother cooperation across Europe so that no criminal or suspect can slip under the radar any longer or get away with dirty money.”

Commissioner for the Security Union Julian King said: “We have been closing down the space in which terrorists and criminals operate, denying them the means to carry out their deadly attacks. Today, we are cutting this space even further, making it easier for law enforcement to access financial information to help them crack down on the financing of terrorism. I would like to thank the European Parliament and the Council for delivering on an important commitment to building a safer Europe.”

Commissioner for Justice, Consumers and Gender Equality Věra Jourová said: “Improving the cooperation between Financial Intelligence Units and law enforcement in the EU will allow us to crack down faster and more effectively on money laundering. We need to be vigilant towards suspicious transfers of money, which can be one of the signals that a terrorist attack is being prepared. Such information needs to be relayed fast, and this can only be done if we have a strong network.”