Anti-money laundering in the EU

On June 7^th, 2018 the Council of Europe has adopted the additional norms to the Directive on the prevention of the financial system using for the purposes of money laundering or terrorist financing.

The introduced provisions of the Directive imply rules for establishment of crimes and penalties for money laundering. The barriers to judicial and police cooperation will be removed by improving crime investigation methods. The EU standards will be brought into line with the Council of Europe Convention on Laundering, Detection, Seizure and Confiscation of the Proceeds from crime and the financing of terrorism 2005 (Warsaw Convention).

The maximum penalty is imprisonment for up to 4 years for individuals and the sanctions for legal persons.

The additional measures can be imposed on offenders at the court’s discretion.

On materials of the following website: http://www.consilium.europa.eu/en/press/press-releases/2018/06/07/eu-agrees-new-rules-to-make-sure-money-laundering-criminals-are-punished/