France to strengthen control over accounts due to terrorism


Moscow. November 24. The French Ministry of Finance requests extension of authority to monitor Bank accounts suspected of links to terrorists to prevent new attacks, writes the Financial Times.

It is assumed that the government of France in January 2016 will announce new measures that will provide Tracfin (the unit of the Ministry of Finance to combat money laundering) access to Finance of all persons included in the lists of wanted criminals or under the control of the special services.

There are about 10.5 thousand people, persistent surveillance most of which is not conducted due to the shortage of funds and personnel.

French Finance Minister Michel Sapin also announced a new initiative aimed at improving oversight of the prepaid Bank cards that played a role in the preparation of terrorist attacks in Paris on November 13.

“Terrorism for us is in the fight against its financing”, – said the Minister.

Currently in France there are rules according to which one-time prepaid cards worth up to 250 Euro and reloadable card for the total amount up to 2.5 thousand euros per year do not require presentation of ID at any stage. The rules will be tightened from the first quarter of 2016.