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New Anti-money laundering directive

21/01/2019

On 11 October 2018, the Council of the European Union adopted a new anti-money laundering directive that introduces new criminal law provisions.

Money laundering activities shall be punishable by a maximum prison sentence of 4 years, and judges may impose additional measures and penalties (temporary or permanent exclusion from public financing, fines, etc.). Aggravating circumstances shall be considered in matters pertaining to criminal organisations or for offences committed in the exercise of certain occupations. The new directive equally provides for corporate entities to be held accountable for some money laundering activities and to mete out a host of different penalties (including exclusion from public assistance, judicial supervision or dissolution by a court).
Finally, common provisions on cross-border judicial and police cooperation will help improve the running of investigations.

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