Feasibility study for a European asset registry in the context of the fight against money laundering and tax evasion

This study assesses the feasibility of setting up a single access point to relevant asset registries in the EU Member States for competent authorities involved in the fight against money laundering and tax evasion. It first defines the relevant assets for money laundering and tax evasion, maps existing registries and identifies gaps. It then assesses three potential implementation scenarios’ legal, operational and IT feasibility and provides a cost-benefit analysis. These scenarios are (1) the creation of additional asset registries at the national level and their interconnection at the EU level; (2) the interconnection of existing national asset registries at the EU level; and (3) the establishment of a centralised EU asset registry. The study further looks at the creation of new registries for assets where currently there are none, examining the possibilities from an operational, legal and cost-benefit perspective. It highlights existing data on these assets that do not stem from registries per se but from alternative sources of information. Further, the three scenarios for creating an EU asset registry are also compared from an operational, IT, legal, and cost-benefit perspective, highlighting the advantages and disadvantages of each. Finally, the study proposes technical options for an EU asset registry, including the user interface and needed architecture Read More