Luxembourg is among EU states that have urged caution in beefing up the bloc’s supervision of banks against money laundering, while Denmark is in favor, an EU official familiar with talks on the matter told reporters on Friday.
The positions were taken in a closed-door meeting of national envoys, who debated a European Commission plan to tighten actions against financial crime, the official said.
It took place on Thursday, the day after Danske Bank chief executive Thomas Borgen resigned over a money laundering scandal involving the lender’s Estonian branch.
There have been other high-profile money laundering cases at banks in the Netherlands, Luxembourg, Malta, Latvia and Spain in recent months.
Currently, the fight against financial crime is conducted by national authorities, which share little information and have sometimes showed little appetite to take action against domestic wrongdoers.
In Luxembourg, authorities decline to disclose the names of some banks sanctioned for money laundering, using loopholes in EU rules that allow secrecy, despite international guidelines recommending that the records be made public.
The Netherlands, Sweden and Finland joined the Duchy in warning against acting “prematurely” over the commission’s proposal, which would give more power and resources to the European Banking Authority, the source said.
France, Spain and Denmark were among EU states that showed support.
The proposal, which needs EU states’ and lawmakers’ approval, was published last week. It needs to be approved before EU elections in May next year or risks being shelved.
States had earlier recognized “gaps” in the EU legal framework.
However, the source said that most were surprised at last week’s proposal, which came only days after they had agreed to postpone action to next year.
Germany, Estonia, Hungary and Italy showed caution about giving more power to the banking authority, the official said, but added that it was important there was more cooperation and exchanges of information among national authorities.
EU finance ministers are to discuss the proposal at their next regular meeting on Oct. 2, according to a preliminary agenda.
However, no decision is expected.
The commission’s plan was seen by experts and lawmakers as sensible, although it postponed indefinitely bolder measures, such as the setting up of a single agency to counter money laundering, as recommended by the European Central Bank.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
MAJOR CONTRIBUTOR: Revenue from AI servers made up more than 50 percent of Wistron’s total server revenue in the second quarter, the company said Wistron Corp (緯創) on Tuesday reported a 135.6 percent year-on-year surge in revenue for last month, driven by strong demand for artificial intelligence (AI) servers, with the momentum expected to extend into the third quarter. Revenue last month reached NT$209.18 billion (US$7.2 billion), a record high for June, bringing second-quarter revenue to NT$551.29 billion, a 129.47 percent annual increase, the company said. Revenue in the first half of the year totaled NT$897.77 billion, up 87.36 percent from a year earlier and also a record high for the period, it said. The company remains cautiously optimistic about AI server shipments in the third quarter,
Hypermarket chain Carrefour Taiwan and upscale supermarket chain Mia C’bon on Saturday announced the suspension of their partnership with Jkopay Co (街口支付), one of Taiwan’s largest digital payment providers, amid a lawsuit involving its parent company. Carrefour and Mia C’bon said they would notify customers once Jkopay services are reinstated. The two retailers joined an array of other firms in suspending their partnerships with Jkopay. On Friday night, popular beverage chain TP Tea (茶湯會) also suspended its use of the platform, urging customers to opt for alternative payment methods. Another drinks brand, Guiji (龜記), on Friday said that it is up to individual
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