In the media

FAZ - Asset transparency and the fight against financial crime

Sebastian Mack explains in the FAZ how organised crime can be stopped with the help of a European asset register without undermining the right to data protection.

The economic sanctions against Russia have made it clear that European authorities only have incomplete data on assets within the EU. For this reason, Sebastian Mack calls for the establishment of a central asset register in his policy brief published in April 2022 (Policy Brief: Out of the Dark). 

In an interview with the FAZ, Mack makes it clear that the protection of personal data must of course be guaranteed. However, he clarifies: "Financial secrecy must no longer stand in the way of the fight against financial crime". According to the expert on EU financial policy, an effective measure would also be to reverse the burden of proof, as Italy is already doing successfully in the fight against the Mafia. This means: If no owner of a suspicious asset comes forward, it falls to the state. 

Read the full article (in German) here.