A new report looking into the effect of selling EU residency and citizenship exposes the EU to corruption and security risks. The report by Transparency International EU and Global Witness highlights the vulnerabilities of so-called 'Golden Visa' schemes in countries such as Malta, Cyprus and Portugal.
Benedek Jávor, transparency spokesperson for the Greens/EFA group in the European Parliament, comments:
"Loopholes in Golden Visa schemes undermine the fight against money laundering and corruption in Europe. EU countries cannot become a safe haven for criminals and the corrupt to escape to with their ill-gotten cash.
"Member states offering these schemes are undermining the EU's financial integrity and security by not carrying out in-depth checks on applicants and sharing information with other countries. It's time for the European Commission to keep a close eye on these schemes to make sure criminals can't slip through the cracks and that corrupt cash doesn't wash up on our shores."
The full report can be found here.