EU agrees money laundering criminal sanctions

The Council of the EU has agreed measures on criminal sanctions for money laundering offences.  A new Directive will set minimum rules for defining money laundering offences and the criminal sanctions for them. The maximum imprisonment will be only 4 years, with additional civil sanctions possible. The directive also caters for exclusion of legal entities from public aid or potentially to be wound up. Once formally adopted, the Directive will be published in the Official Journal and thereafter Member States will have 2 years to implement it.


Emma Radmore