World
What do newly approved anti-money laundering rules cover?
EU lawmakers voted in a landslide in favour of new curbs on crypto, football clubs and cash transactions.
EU lawmakers today voted 482 to 47 to set up a long-promised EU anti-money laundering agency, as part of a package that would also see large cash payments banned across Europe.
The move – taken by MEPs at their last voting session before June elections – means new rules apply for football deals and crypto transactions, as the bloc seeks to repair its reputation after a series of financial-sector scandals.
“Dirty money finances terrible crimes,” EU financial services commissioner Mairead McGuinness said, adding that there was an “absolute imperative to improve significantly on the current situation”.
Those views seemed largely shared across the political divide – including by Damien Carême (France/Greens), one of the MEPs who led negotiations.
Terrorists and fraudsters “exploit the loopholes in European legislation”, Carême told lawmakers. “We have to act decisively to ensure a robust system.”
What do new EU money-laundering rules do?
New rules include a limit on professional traders accepting or paying cash for any transaction over €10,000 – given that big wads of untraceable banknotes can send alarm bells over financial crime.
Some lawmakers claim that’s an attack on financial freedom.
“Keep your hands off our cash and our digital currencies,” Patrick Breyer of the German Pirate Party told lawmakers. “We Pirates say no to this creeping financial disenfranchisement.”
Yet one of the most touchy subjects of the complex package has been geographical: the question of where to house a new EU anti-money laundering agency.
After a first-of-a-kind 12-hour public hearing, German financial centre Frankfurt won out, from a slate of candidates that also comprised Paris, Rome, Madrid, Vienna, Riga, Vilnius, Brussels and Dublin.
Its 400-odd staff will directly supervise dirty-money controls at 40 of the bloc’s biggest financial institutions.
Expanded scope of new anti-money laundering laws
EU money laundering laws already apply to big institutions like banks, who are required to verify who their customers are, and report suspicious transactions to the authorities.
Those rules will also apply to high-risk sectors like traders in artwork, jewellery and luxury yachts. They’ll be extended to cover innovative services like cryptocurrency providers—as lawmakers are concerned bitcoin and other, even more anonymous assets can be used for illicit payments.
At MEPs’ insistence, the measures apply to major football clubs and agents – given the large amounts of sometimes dubious money that circulates between them.
More consistent rules
For the first time ever, the EU’s rules are set out in a regulation that will apply more or less consistently across the bloc.
That means less discretion for each country to tweak rules for the national context – creating discrepancies that make it harder for legitimate businesses to operate across borders, and easier for criminals and terrorists to exploit the system.
A separate money laundering directive, also agreed today, resolves issues over how journalists and activists can trace the financial structures used to hide wealth.
Arrangements were thrown into disarray by a shock 2022 EU court judgment that restricted access to company ownership registers on privacy grounds.
Why does the EU need new anti-money laundering rules?
Officials hope the new rulebook will help improve the EU’s reputation for dirty money, closing the chapter on a series of scandals.
Two EU members – Croatia and Bulgaria – currently sit on a “grey list” of suspect money laundering jurisdictions compiled by international standard-setter the Financial Action Task Force (FATF), and Malta was only recently taken off it.
The region also faced a series of financial-sector scandals involving institutions such as Danske Bank, Latvia’s ABLV, and Malta’s Pilatus bank.
Danske was fined billions of euros by US and Danish regulators in 2022, after admitting that around €200bn was laundered through its Estonian arm between 2007 and 2015.
EU talks were given extra salience by the need to enforce sanctions imposed on Russia for its war in Ukraine – given fears that ultra-wealthy oligarchs can use shady financial structures to evade curbs.
When will new EU money laundering rules take effect?
New anti-money laundering controls have been a long time coming, and it’s still not over.
Valdis Dombrovskis berated uneven enforcement and promised to examine a new EU agency in his hearing to become EU financial services commissioner as far back as October 2019.
After several last-minute wrangles, lawmakers and governments announced a tentative deal on the bulk of the law in January 2024.
Once nodded through by national ministers, much of the new regulation kicks in after three years, but there is some flexibility.
Rules for the football sector will take five years to apply, and the new EU agency could start work later this year – though the law setting it up takes effect formally in July 2025.
World
More conflict in curling as Canadian women are accused of the same violation as men
CORTINA D’AMPEZZO, Italy (AP) — Canada’s women’s curling team at the Milan Cortina Olympics was accused Saturday of the same violation that prompted an expletive-laden outburst from a Canadian men’s curler a day earlier.
The latest accusation in a controversy that has divided the curling community led to more tense moments on the ice at the Cortina Curling Center.
In the first end of the women’s game against Switzerland, which the Swiss ultimately won 8-7, officials called a foul, saying that skip Rachel Homan had touched her stone again after releasing it.
In curling, that’s known as “double-touching,” and it’s against the rules.
Swedish curler Oskar Eriksson accused Canada ’s Marc Kennedy of the same infraction during Canada’s 8-6 win in round-robin play late Friday. On the ice, Kennedy repeatedly used profanity while denying he broke any rules. Although video of his throw appeared to confirm the accusation, Kennedy maintained his innocence into Saturday and went so far as to accuse Sweden of having a “premeditated” plan.
Though the Canadian women were not as fired up in response to the allegation of double-touching, they surely looked incredulous after the call.
“Like, absolutely not,” said Homan, who is known as one of the best skips in the world. “Zero-percent chance.”
Homan’s teammate, Emma Miskew, could be heard briefly engaging with an official on the sidelines, asking why video could not be used to review the call. The official explained that the team needed to trust the umpire. By rule, World Curling does not use video to review game play.
Before restarting the match, the Canadian women huddled with their coaches. Expletives could be heard from those in the circle, though it was not clear who uttered them.
After the game, Homan said she felt she’d been unfairly scrutinized because of the controversy on the men’s side.
“I don’t understand the call. I’ll never understand it. We’ve never done that,” she said. “It has nothing to do with us.”
After an early win over Denmark, the Canadian women have lost their last three matches. They lost to the United States on Friday, the first time in Olympic history that the U.S. had beaten Canada in women’s curling.
Also in women’s action on Saturday, Sweden women beat Italy 8-6, Denmark beat Korea 6-3 and the U.S. beat Japan 7-4.
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AP Olympics: https://apnews.com/hub/milan-cortina-2026-winter-olympics
World
Global protests call for Iran regime change in major cities worldwide after bloody crackdown
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Anti-Iran regime protesters gathered in major cities across the globe on Saturday calling for a leadership change in the Global Day of Action Rally.
Over 250,000 protesters rallied in Munich, Germany on Saturday on the backdrop of the Munich Security Conference.
“With the number of participants recorded, this gathering is one of the largest rallies held in Munich in recent years,” the Munich Police reported in a press release. “The peaceful atmosphere is particularly noteworthy, despite the high number of participants in the meeting.”
IRAN REGIME REPORTEDLY ISSUED NATIONWIDE SHOOT-TO-KILL ORDERS AS PROTEST DEATH TOLL SURGES
Crowds reportedly chanted “change, change, regime change” and “democracy for Iran” with green-white-and-red flags with lion and sun emblems waving in the air with a few “Make Iran Great Again” red hats spotted.
Exiled Iranian crown prince Reza Pahlavi was among the hundreds of thousands protesting, telling Reuters, a possible attack on Iran will either weaken the regime or accelerate its fall.
“Global Day of Action” protests were held in major cities across the globe on Saturday. (Patrick T. Fallon / AFP via Getty Images)
“It’s a matter of time. We are hoping that this attack will expedite the process and the people can be finally back in the streets and take it all the way to the ultimate regime’s downfall,” said Pahlavi.
He shared that he hopes President Trump will have the United States intervene and “have the people’s back.”
UPROAR AFTER IRAN NAMED VICE-CHAIR OF UN BODY PROMOTING DEMOCRACY, WOMEN’S RIGHTS
On Friday, President Trump said regime change in Iran would be the “best thing” to happen while speaking to troops at Fort Bragg in North Carolina.
Senator Graham said anti-regime protesters should “keep protesting.” ( James Willoughby/SOPA Images/LightRocket via Getty Images)
“People are hoping that at some point the decision will be made that there’s no use, there’s no point, we’re not going to get anywhere with negotiations,” said Pahlavi. “”Intervention is a way to save lives.”
South Carolina Senator Lindsey Graham was present in Munich for the security conference and echoed a similar sentiment in a sideline interview on Friday.
NIKKI HALEY URGES TRUMP TO MAKE IRAN ACTION A ‘LEGACY-DEFINING MOMENT’ BEFORE LEAVING OFFICE
“There’s no negotiating with these people, in my view. They’re hell-bent on enacting an agenda based on religion that teaches them to lie, teaches them to destroy in the name of God,” said Graham.
“There’s no negotiating with these people, in my view,” said Graham at a rally in Munich. (Hannes Magerstaedt/Getty Images)
He shared that the regime is the weakest they have been since 1979, adding, “it is a regime with American blood on its hand,” calling on protesters to “keep protesting.”
The senator also took the stage at the Global Day of Action speaking to the crowd and holding up a “Make Iran Great Again” black hat.
Large demonstrations were also held in Toronto, Melbourne, Athens, Tokyo, London, and Los Angeles.
An estimated 350,000 people marched on the streets of Toronto, the city’s police spokesperson, Laura Brabant, told the Associated Press (AP).
Over 250,000 protesters rallied in Munich, Germany on Saturday on the backdrop of the Munich Security Conference. (Marijan Murat/picture alliance via Getty Images)
Iranian American activist and Beverly Hills plastic surgeon Dr. Sheila Nazarian told Fox News Digital the protests across the globe represent a universal truth.
“When regimes silence their people, the people eventually find their voice. Whether in the streets of Tehran or in diaspora communities around the world,” she said.
Nazarian left Iran when she was 6 years old along with her family.
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“As someone who came to this country from Iran, I know firsthand that these protests are not about politics, they’re about basic human dignity, women’s rights, and the fundamental freedom to live without fear,” she added.
The Associated Press and Reuters contributed to this report.
World
Will Warsaw become the seat of a new EU agency? To be decided in March
At stake is prestige, hundreds of jobs and influence over how the European Union will protect its economic borders for decades to come. The new office is expected to be operational this year and will become fully operational two years later.
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Who will Warsaw face?
The list of candidates is long. In addition to Warsaw, the following are Liège (Belgium), Malaga (Spain), Lille (France), Zagreb (Croatia), Rome (Italy), The Hague (Netherlands), Porto (Portugal) and Bucharest (Romania).
Each city plays its own card. The Hague is promoting closer ties with Europol. Belgium and France are betting on logistics.
Poland is bringing geopolitical and operational arguments to the table: Warsaw is already home to the EU border agency Frontex, and the Polish government argues that, in an age of hybrid warfare, security and the synergy among these institutions are key.
The argument is simple: since customs officers and guards are fighting the same threats, they should work side by side.
Why is it worth the effort?
“On the one hand, hosting the headquarters of the EUCA offers more opportunities to actively participate in the process of reforming the customs union. On the other hand, it is an economic growth opportunity for the host city,” Małgorzata Krok, Plenipotentiary of the Minister of Finance and Economy for the application to establish the headquarters of the EU Customs Authority (EUCA), told Euronews.
“The new agency means increased business and tourist traffic, as well as the arrival of EUCA employees with their families. The EUCA is expected to eventually employ 250 people, but this number may increase in the future,” she said.
“Warsaw offers direct flights to all EU countries, as well as to candidate and partner countries. The synergy with Frontex, the proximity to all types of border crossings and the experience of our administration in customs matters and the creation of large-scale tax and customs IT systems, create optimal conditions for the development of the EUCA,” Krok added.
Polish diplomats also point out, behind the scenes, the weaknesses of rivals, noting that being a logistical hub for e-commerce, like Belgium or the Netherlands, in the era of the flood of cheap parcels from Asia can be a burden.
Poland’s biggest rival, however, is identified as France, which has been courting the agency for quite some time.
Not only taxes, but also security and technology
“The role of the tax collector has evolved into a guardian of the single market, the competitiveness of the economy and the security of citizens. It’s not just a question of smuggling or terrorism, but product compliance,” Magdalena Rzeczkowska, former Minister of Finance, added in an interview with Euronews. Rzeczkowska also previously managed the National Tax Administration and observed the evolution of customs from paper declarations to the digital age.
The former minister draws attention to our asset, namely the Frontex seat. The argument about the synergy of institutions is considered crucial, especially in the context of the security of the eastern flank: “We are talking about integrated border management, and this synergy is an important element. It is at the interface of the work of these institutions that security can really be built.”
Furthermore, the former minister points out that EUCA will also be a technology hub. “It should definitely not be officials in a suit, for the reason that the main task will be not only to build but also to maintain the EU Customs Data Hub,” she points out.
Rzeczkowska is echoed by Minister Krok: “The heart of the current customs reform will precisely be the data hub. The agency itself, on the other hand, will be the brain, analysing customs issues and risk at the EU level. With this, the agency has the potential to become a research and development centre in the customs area.”
What is the Customs Data Hub?
The struggle for localisation is only one dimension of the story. The real challenge is what the EUCA is supposed to manage: The EU Customs Data Hub.
Experts call this system the ‘nervous system’ of the new customs union. Instead of 27 separate national systems, the Union wants to create a single, unified database. This is supposed to enable real-time tracking of goods and the detection of dangerous products using artificial intelligence.
The reform is being driven by the crisis. According to European Commission forecasts, 5.6 billion parcels, the vast majority of which come from China, were expected to enter the Union in 2025. The current system is inefficient, and customs officials themselves are unable to physically control such a mass. The result? Europeans lose billions of euros in unpaid customs duties and taxes. It is this system that the new authority aims to seal.
However, business warns: without cooperation with the private sector (courier companies, e-commerce platforms), the construction of the ‘Data Hub’ could end up paralysing trade. The logistics industry has warned that the deadlines for implementing the changes are very tight and that the technical specifications remain unclear.
The industry itself adds that, without consultation with practitioners, the ambitious digital reform could lead to bottlenecks that will hit European consumers. At the same time, the Polish bid relies precisely on the argument that only a ‘digital stronghold’ with experience in crisis management will bear the burden.
This is why Warsaw, in fighting for the EUCA, is bidding not just to host officials, but to be the operational centre that must bear the biggest customs reform in the history of the European Union.
EUCA. The backstage of the competition
And what does the behind-the-scenes look like at the moment? Here, Minister Rzeczkowska is under no illusions about the nature of the choice of seat: “At the end of the day, it will be a political decision, although it shouldn’t quite be. We should look from the point of view of the independence of the institution”.
“We made a conscious decision to run for this office because we believe that it is in Warsaw that it will develop best. We are now actively persuading the decision-makers to do so,” indicates Krok, recalling that the decision will be made by the EU Council and the European Parliament.
The final verdict will come in March 2026. That is when it will become clear whether Brussels prefers to bet on the proven trade routes of the west or on a digital shield on the eastern flank – and whether the centre of gravity is finally shifting to the east in Europe’s new architecture.
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