EU warns of crime risks from governments' sales of passports, visas

The European Commission warned on Wednesday that programs of some EU states to sell passports and visas to wealthy foreigners could help organized crime groups infiltrate the bloc and raise the risk of money laundering, corruption and tax evasion.

The warning is contained in the first report the EU executive has produced over the multi-billion-dollar industry of so-called "investment migration," which allows rich individuals to buy citizenship or residence in countries that put them on sale.

Although legal, these schemes are sometimes run in opaque ways and without sufficient checks on those who acquire passports and visas, the Commission said, mostly raising concerns about the programs in Malta and Cyprus.

Brussels warned of risks for the entire bloc as passports and residence permits issued by one country of the 28-nation union give unhindered access to...

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