Investigative journalists will be the beneficiaries of new EU legislation against money laundering, which will give them greater access to company data.
A fourth anti-money laundering directive has been agreed between EU member states and the European parliament Tuesday. The new measure requires EU countries to maintain a central register on the ultimate beneficial owners of companies and trusts, the Financial Times reports.
A number of campaign groups are concerned about trusts in particular, as they are more protected from public scrutiny.
From now on registered ownership details of specific companies will be open to journalists with ‘legitimate interests’ if they make a formal request.