Law Enforcement Officers to Have Access to Bank Account Ownership Data

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The European Council of Ministers together with the European Parliament have acknowledged the European Commission’s suggestion to make law enforcement authorities’ access to financial information for serious criminal investigations quicker and easier.

The self-named security union proposals, first met last year in April 2018, and will grant police and debt collection offices direct access to all bank account information stored in the national centralised bank account registries; allowing authorities to see what bank account(s) a suspect holds and in which countries. Once the law enters into force within the EU, Member States will have 2 years to implement the regulations locally.