EU LAWS & LAWYERS MONEY LAUNDERING
June 1st, 2005
BY ALAN OSBORNTHE REMARKABLY quick approval of the European Union's (EU) Third Money Laundering Directive this summer has delighted the EU's law enforcement agencies but it may have done little for the composure of lawyers who had hoped, in vain as it turned out, that the measure would tackle what they see as the deficiencies of the 2nd directive approved in 2001. In essence the lawyers say the new measure will further erode client-confidentiality guarantees, which they feel were already trampled underfoot in the earlier legislation.The new directive extends the ...
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