European Parliament Agrees To Strict Controls On Anonymous Prepaid Cards

European parliamentarians have given the seal of approval to reforms that will classify anonymous prepaid cards as cash in efforts to combat illicit funds moving in and out of the EU.

The Economic and Monetary Affairs (ECON) and Civil Liberties (LIBE) committees overwhelmingly agreed on updates to the cash controls regulation on Monday, with 68 votes in favour, zero rejections and four abstentions.

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