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
Map: 6.0-Magnitude Earthquake Shakes Off Mexico’s Coast
Note: Map shows the area with a shake intensity of 3 or greater, which U.S.G.S. defines as “weak,” though the earthquake may be felt outside the areas shown. The New York Times
A strong, 6.0-magnitude earthquake struck in the Gulf of California on Tuesday, according to the United States Geological Survey.
The temblor happened at 1:45 p.m. Mountain time about 47 miles southwest of El Progreso, Mexico, data from the agency shows.
As seismologists review available data, they may revise the earthquake’s reported magnitude. Additional information collected about the earthquake may also prompt U.S.G.S. scientists to update the shake-severity map.
Subsequent quakes have been reported in the same area. Such temblors are typically aftershocks caused by minor adjustments along the portion of a fault that slipped at the time of the initial earthquake.
Aftershocks detected
Quakes and aftershocks within 100 miles
Aftershocks can occur days, weeks or even years after the first earthquake. These events can be of equal or larger magnitude to the initial earthquake, and they can continue to affect already damaged locations.
The New York Times
When quakes and aftershocks occurred
Sources: United States Geological Survey (epicenter, aftershocks, shake intensity); LandScan via Oak Ridge National Laboratory (population density) | Notes: Shaking categories are based on the Modified Mercalli Intensity scale. When aftershock data is available, the corresponding maps and charts include earthquakes within 100 miles and seven days of the initial quake. All times above are Mountain time. Shake data is as of Tuesday, June 30 at 2:02 p.m. Mountain time. Aftershocks data is as of Tuesday, June 30 at 6:01 p.m. Mountain time.
World
Boy, 2, pulled alive from rubble six days after Venezuela’s devastating twin earthquakes
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Emergency workers in Venezuela on Tuesday rescued a 2-year-old boy who had been trapped beneath the rubble for six days, marking the only reported rescue of a survivor on the sixth day of operations following last week’s devastating earthquakes.
Venezuela’s acting President Delcy Rodríguez said in a Telegram post that Jordanian emergency workers pulled the child from a collapsed building in La Guaira, an area hit the hardest by last week’s earthquakes.
The child, identified by authorities as Klieber Moran, was rescued after spending six days trapped beneath the rubble, Rodríguez said.
Moran was taken to a hospital for treatment, she added.
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A Jordanian team works to rescue a child trapped under rubble following earthquakes in Venezuela, in a location given as Caracas, Venezuela. (Jordan Public Security/Handout via REUTERS)
National Assembly President Jorge Rodríguez said in a televised address Tuesday that officials remain hopeful more survivors will be found.
“We must hold onto the hope of continuing to find people alive beneath the rubble,” Jorge said. “Early this morning, a 2-year-old boy was rescued and is currently receiving care at a health center in Caracas.”
Rescue efforts have continued since magnitude 7.2 and 7.5 earthquakes struck Venezuela’s northern coast last Wednesday.
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Emergency workers rescued a 2-year-old boy after he spent six days trapped beneath the rubble following last week’s earthquakes in Venezuela. (Jordan Public Security/Handout via REUTERS)
The death toll from the twin earthquakes rose to 1,943 on Tuesday, with more than 10,500 people injured, according to Venezuelan officials. On Monday, the death toll stood at 1,719.
Tuesday’s rescue marked another glimmer of hope amid the disaster that has devastated the South American country.
On Saturday, the U.S. State Department shared video showing American search-and-rescue teams pulling an infant alive from beneath the rubble in Venezuela.
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A child receives emergency medical attention after being rescued by a Jordanian team from under rubble following earthquakes in Venezuela. (Jordan Public Security/Handout via REUTERS)
The infant, who is 9 months old, was rescued along with her mother, the State Department told Fox News Digital. Both suffered only minor injuries, according to the rescue team.
“Against impossible odds, hope endures,” the State Department posted on X.
On Tuesday, a shipment from the United Nations Children’s Fund (UNICEF) containing 47 metric tons of humanitarian supplies arrived in Venezuela.
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Emergency workers rescued 2-year-old Klieber Moran from beneath the rubble of a collapsed building in Venezuela six days after the country’s devastating earthquakes, according to Venezuelan officials. (Jordan Public Security/Handout via REUTERS)
The shipment includes emergency health kits for urgent medical care, including supplies for safe births, newborn care, disease prevention and treatment, according to the United Nations.
Urban Search and Rescue (USAR) teams from Virginia, California and Florida were dispatched to Venezuela on Friday to help search collapsed buildings.
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According to the State Department, the three USAR teams include 312 personnel and 18 canine teams, made up of firefighters, physicians, structural engineers and canine search specialists, and deployed with more than 200,000 pounds of specialized rescue equipment.
Reuters contributed to this report.
World
World’s oceans experience hottest June ever, scientists say more heat ahead
European Union monitors say the first half of 2026 was ‘marked by sustained and exceptional ocean warmth’ and forecast more to come.
Published On 1 Jul 2026
The world’s oceans experienced their “warmest June ever observed” and could see further record-breaking highs in the months ahead as El Niño and climate change push temperatures higher, according to a new report.
The European Union’s Copernicus Marine Service said on Wednesday that “record global sea surface temperatures” of 21.0 degrees Celsius (69.8 degrees Fahrenheit) in June beat the previous records in the same month in 2023 and 2024.
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“The first six months of 2026 were characterised by persistently elevated sea-surface temperatures and widespread marine heatwaves across much of the global ocean,” the EU’s marine environment monitor said in a statement.
“Marine heatwaves expanded steadily throughout the period, ultimately affecting around 82 percent of the global ocean,” said Simon van Gennip, lead oceanographer for the Copernicus Marine Service.
“The Mediterranean, the central North Atlantic and the equatorial Pacific all emerged as hotspots, and these regional signals paint a consistent picture of an ocean under sustained thermal stress,” Van Gennip said in a statement.
The onset of a potentially powerful El Nino weather pattern could boost global heat in the oceans and atmosphere even further in 2026, and into next year, according to scientists.
“Current conditions could indicate the beginning of a new phase, leading, once more, to uncharted territory,” said Carlo Buontempo, director of the Copernicus Climate Change Service, the EU’s climate monitor.
“With ocean temperatures at these levels and El Nino on the horizon, we are likely to see more temperature records fall in the coming months,” Buontempo said in a statement.
El Nino is marked by unusually warm waters in parts of the Pacific Ocean, releasing more heat into the atmosphere and influencing wind, cloud and weather patterns around the globe. This can raise the risk of weather extremes, ranging from floods in Peru to droughts in parts of Africa and wildfires in Australia.
Land and sea temperatures reached an all-time high in 2024 at the tail end of the last El Nino, and 2026 could be among the warmest years recorded with the onset of the next El Nino this year.
The Copernicus report follows a warning issued in a major UN scientific assessment last month, which declared that the world’s oceans were in a “deepening crisis” as seas were warming and rising faster.
Oceans are a key regulator of Earth’s climate because they absorb some 90 percent of the excess heat caused by humanity’s release of greenhouse gases, such as carbon dioxide.
Warmer oceans increase moisture in the atmosphere, providing fuel for tropical cyclones and destructive rainfall.
Hotter seas also directly contribute to sea-level rise – water expands when it warms up – and create unbearable conditions for tropical reefs, whose corals can bleach and die during prolonged marine heatwaves.
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