EU steps up legal action against Malta, Luxembourg over money laundering

BRUSSELS (Reuters) - The European Commission on Thursday stepped up legal action against Malta and Luxembourg for not fully applying European Union rules to prevent money laundering at banks and through companies.They are among several EU states where banks have been embroiled in money laundering scandals, but they have failed to strengthen their rules to counter financial crime, according to the EU Commission.Malta has been subject to a rarely-used disciplinary procedure after serious..