EU plan to cut terrorist funding
In an attempt to cut off the cash flow to terrorists - the European Union is planning to introduce new controls on money transfers. The Commission is set to table a proposal requiring banks to register the name, address and account number of all those moving money - no matter how small the amount - between the EU and abroad. Without the data, banks will have to refuse the transfer. The plan is part of a series of proposals discussed by EU interior ministers at an emergency meeting in the wake of the London bombings on July 7.
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