WRITTEN QUESTION E-2234/99 by Christopher Huhne (ELDR) to the Commission. Pressure against offshore centres.
C 219 E/128 Official Journal of the European Communities EN 1. 8. 2000 (2000/C 219 E/159) WRITTEN QUESTION E-2234/99 by Christopher Huhne (ELDR) to the Commission (1 December 1999) Subject: Pressure against offshore centres What are currently the direct and indirect measures applied against offshore centres suspected of inadequate implementation of the money-laundering provisions (for example, administrative guidance given by G7 banking supervisors or other authorities to stop banking transfers to certain jurisdictions)? Is there any reason of principle why similar measures might not be applied against centres which failed to implement a withholding tax or enter into reporting agreements on non-resident investments? Answer given by Mr Bolkestein on behalf of the Commission (17 January 2000) The Commission is not aware of any cases in which banking supervisors of the Group of seven most industrialised countries (G7) or other authorities have actually stopped banking transfers to offshore centres considered to have inadequate defences against money laundering. There have, however, been cases where administrative guidance has been given. The Financial action task force on money laundering (FATF), the foremost world body active in this area, can publicly call on financial institutions to give special attention to business relations and transactions with people, companies and financial institutions, from countries which do not or insufficiently apply the relevant standards. Such action was taken in 1996 against the Seychelles, whose Economic Development Act appeared to provide a safe haven for criminal money. As a result of this, and diplomatic action, the Act was not implemented. In April 1999 both the United States and United Kingdom authorities issued a formal notice to financial institutions warning them about financial transactions involving Antigua and Barbuda. On a more general level, the FATF is currently engaged, on the basis of a mandate from the G7, in a major initiative to identify those countries and territories which provide insufficient co-operation in the global fight against money laundering. (2000/C 219 E/160) WRITTEN QUESTION E-2239/99 by Christopher Huhne (ELDR) to the Commission (1 December 1999) Subject: Cost of translation and interpretation Please indicate the cost of translation and interpretation in the EU in 1999 and estimate the cost in each case, assuming the continuation of present language policies, if one, two, three, four, five, six, seven, eight, nine, ten or eleven languages were added to the existing official languages